The number of homes sold in May are down from last year, but new listings are up 53 percent.

The number of homes sold in May dropped to 29, down from 49 in 2010, according to a release by the Southeast Minnesota Association of Realtors (SEMAR). But there were 69 new listings in May 2011, compared to 45 last year.

“Housing is not showing any signs of being the leader in recovery from this recession,” said Duane Sauke, SEMAR MLS President, in a press release. “This month’s report shows a market that has the characteristics of an economy where confidence is still influenced by the larger economy.”

The number of active listings also dropped, from 479 to 432. From January through May, 133 homes sold, down from 140 in 2010.

The median sales price was $76,450, a 10 percent decrease from $85,000 in 2010.

“Housing in southeastern Minnesota continues to be experiencing a very slow reduction in median price,” Sauke said.

However, the price drop is not experienced in every price range, Sauke added.