Nationally, existing home sales recently dropped to a 6-month low, falling 7.2% as buyers struggled to find a home amid rising prices and historic low inventory. Pending sales are also down, declining 4.1% as of last measure, according to the National Association of Realtors.

Builders are working hard to ramp up production — the U.S. Census Bureau reports housing starts are up 22.3% compared to a year ago — but higher construction costs and increasing sales prices continue to hamper new home sales, despite high demand for additional supply.

Locally new listings decreased 10.6% for single family homes but increased 21.6 percent for condo-villa homes.

Average sales price increased 23.9% to $185,819 for single family homes but increased 11.7% to $233,651 for condo-villa homes. Days on market decreased 14-3.2% for single family homes but increased 17.4% for condo-villa homes. Months Supply of inventory remained unchanged for single family homes and for condo-villa homes.

Across the country, consumers are feeling the bite of inflation and surging mortgage interest rates, which recently hit 4.6% in March, according to Freddie Mac, rising 1.4% since January and the highest rate in more than 3 years.

Monthly payments have increased significantly compared to this time last year, and as housing affordability declines, an increasing number of would-be homebuyers are turning to the rental market, only to face similar challenges as rental prices skyrocket and vacancy rates remain at near-record low.