The real estate market is looking up for sellers and buyers. Active listings rose 5% in May, the highest since March 2019 according to Realtor.com.

“Last week’s housing data showed the real estate refresh has arrived, as active listings posted sizable gains for the first time in three years,” Danielle Hale, Realtor.com’s chief economist, said in the report. “And the year-over-year gap closed rapidly, going from flat to convincingly positive territory in the span of a week.”

With inventory increasing and interest rates rising, we expect the market to start shifting. This is good news for buyers who have been looking in the current market. With record high numbers sellers have been eager to get their home on the market.

Buyers are feeling the pressure to buy before the interest rates go up any further.

We will continue to face a challenging market, a low inventory and list prices at a record high. The accelerated change in inventory trends is a welcome one, driven by the combination of more sellers and fewer buyers able to contend with rising housing costs.