The May numbers are here. Slightly softer than April but not by much. The big story is that inventory remains low and activity is high. As a result, the days it takes a property to go under contract is short than it’s ever been. Median prices still outpace a year ago by a lot. Look at the discount off of list price – it is almost gone. The story here is simple. If you want a nice property, you have to be able to see it first, pay full price or more, and hope the seller will agree to stop showings.