Home sales decreased year over year.
The National Association of REALTORS® reported home sales at a seasonally adjusted annual rate of 5.27 million in June, down 1.7% from May and 2.2% below the 5.39 million sales pace from a year ago.
Home prices have continued to increase year-over-year.
The median home price increased to $285,700 in June, up 3.1% from May. The median home price has increased by approximately $11,900 in the past year alone.
Inventory – Month’s Supply
There was a 4.4-month supply of housing inventory in June 2019, up 2.3% from May. The total number of available homes for sale has increased by 2.3% compared to June of last year.
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