For-sale home supply grows faster than ever
Potential homeowners across the country saw some relief this month as the number of homes available for sale climbed at its fastest yearly pace of all time, according to the June Realtor.com® Monthly Housing Trends Report. Among key factors driving June’s jump in active listings were new sellers, who entered the market at a higher rate than in 2017-2019 prior to the pandemic.
Realtor.com economists say the typical buyer has yet to see meaningful relief from quickly selling homes and record-high asking prices, despite more housing inventory. However, inventory gains by square footage shows potential opportunities for move-up buyers, as newly listed homes skewed larger and may be an opportune time for sellers looking to upgrade from their starter homes.