The Triangle housing market continued its run of positive sales growth in May, with sales increasing 28 percent and pending sales up 30 percent over the same period a year ago.
There were 1,954 homes sold during the month in Durham, Johnston, Orange and Wake county, Triangle Multiple Listing Services data show.
The numbers were particularly encouraging given that most real estate experts predicted that the monthly year-over-year gains would shrink as the year went on, in large part because sales early last year were particularly dismal.
The increase in sales activity appears to be a sign that the market is finally succumbing to the laws of supply and demand. The number of homes listed for sale in the region has been falling for more than a year and a half now, while the number of sales occurring has been steadily rising.
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