As Inventory Rises, June Home Sales
Post Year’s Highest Mark But Trail 2021
Halfway through the peak summer buying season, this year’s home sales are falling short of 2021’s, as signs of more balance in the market take hold.
• June posted the most home sales of any month thus far this year, topping May by 4.7% but falling 17.6% short of June 2021.
• Inventory grew for a third consecutive month by a whopping 34.1% over May and 27.5% year over year.
• While up 11% year over year, the Median Sales Price of $428,000 inched just 0.6% above May’s.
Bolstering the inventory was a 7.7% increase in new listings month over month, which was an increase of 1.6% over June 2021. Months Supply of Inventory jumped from 0.9 in May to 1.4 in June. A year ago, Months Supply of Inventory was 1.0.
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