REALTOR® News

May 2026 Housing Stats

by Jacky Mueck Housing Stats 0 0 Comment 49

Maryland Housing Inventory Declines as National Housing Supply Improves.
New Listings fell 22.1% in Maryland despite growing inventory trends nationwide.

ANNAPOLIS, MD — June 16, 2026—Maryland's housing market continued to be defined by strong buyer demand and limited housing supply in May 2026. While home sales declined 2.8% to 6,331 homes sold when compared to 6,515 homes in May 2025, buyer activity remained robust with pending sales rising 9.6% and home showings increasing 4.6%. Home prices continued to rise, with the average sales price increasing 4.7% to $547,405 and the median sales price climbing 3.2% to $454,000.

In this same month, active inventory fell 16.4%, and new listings declined 22.1%, further tightening an already-constrained market.

Several indicators suggest buyers remain active despite the decline in completed sales. Pending sales increased from 6,660 to 7,298 contracts, while home showings rose from 131,707 to 137,755. Homes also continued to sell quickly, with median days on market increasing only slightly from nine days to 10 days.

"The good news is that Maryland buyers are still engaged in the market," said Denise Lewis, 2026 President of Maryland REALTORS®. "People are touring homes, writing contracts, and moving forward with their housing plans. The challenge is that there simply aren't enough homes available to meet that demand."

The market's primary challenge remains housing supply. New listings fell 22.1% compared to May 2025, dropping from 9,368 to 7,295 properties. Active inventory declined 16.4%, falling from 18,402 homes to 15,392 homes available for sale statewide. Months of inventory also decreased from 3.2 months to 2.8 months.

Maryland's inventory trends stand in sharp contrast to conditions across much of the country. According to Realtor.com, new listings nationally increased approximately 2.1% year-over-year in May, and many markets continued to see inventory growth. Maryland, meanwhile, experienced significant declines in both listings and available homes, highlighting the state's ongoing housing supply challenges.

"The numbers make it clear that Maryland doesn't have a demand problem—it has a housing supply problem," Lewis said. "Across much of the country, buyers are beginning to see more choices. In Maryland, inventory continues to shrink while buyer interest remains strong, creating ongoing affordability challenges for many families."

The gap between Maryland's average sales price and median sales price also points to continued strength in higher-priced market segments. While the median sales price reached $454,000, the average sales price exceeded $547,000, suggesting that upper-end home sales continue to exert upward pressure on overall pricing even as affordability remains a concern for many prospective buyers.

Lewis noted that addressing Maryland's housing shortage will require continued efforts to expand housing opportunities and increase the supply of homes available to buyers throughout the state.

"Every Marylander deserves the opportunity to find housing that meets their needs and budget," Lewis said, “but our local governments need to open their eyes when it comes to housing affordability and zoning by housing that meets the needs of their all their constituents, rather than hiding behind the disparate NIMBY voices.”