New Listing of Homes For Sale Increase in June – Good News for Buyers

Realtor.com is reporting in their Monthly Housing Report for June 2021, that new listings showed signs of a comeback , as home prices broke a new record for the fifth months in a row at $ 385.000. With housing inventory down 43.1% year-over-year, 415,000 fewer homes were available for sale on a typical day in June compared to the same time last year, but an improvement over the more than 50% year-over-year declines seen in March, April, and May. While more sellers entered the market in June compared to last year, new listings growth was still 14.4% below the average of the June levels seen from 2017 to 2019. In a statement prepared for the release of the Monthly Housing Report, Realtor.com’s Senior Economist, George Ratiu said, “Although there’s still a significant shortage of homes for sale and home prices just hit a new high, our June data report shows good news on the horizon for buyers. Inventory declines improved over the steep drops seen earlier in the pandemic, as sellers stepped back into the market in a variety of price ranges across the country. The improvement we saw in new listings growth from May to June shows sellers are entering the market historically later in the season, which could mean we’ll see homebuying continue into the fall as buyers jump at new opportunities.”