This past May 2023 displayed a few larger changes in the LBI real estate market that could point in a positive direction for things to come. It was observed that the number of residential homes sold, month-over-month, increased by about 48% in May. The past month also proved to sell about 26% more homes than the average for 2023, so far. While this can be seen as the “market coming back to life” it is important to remember that the island is still seeing an extremely low inventory. The more homes sold in combination with a stagnant or slowly increasing home inventory, will inevitably lead to an even smaller sales market. On a positive note, inventory accumulation for the month of May was about 34% greater than April for “New Active” properties. Hopefully, the trend of increasing inventory is able to keep up with the growth of home sales per month.