Market Update: June 2021 (NAR)
“Sales rose with more inventory coming into the market, aided by an increase in housing construction. The inventory of unsold homes rose to 1.25 million (1.21 million in May), which is equivalent to 2.6 months of the monthly sales’ pace (2.5 months in May). While inventory of homes for sales are rising, the number of homes on the market is still 18.8% below the level one year ago.”
-National Association of Realtors, Weekly Housing Market Monitor
“Median Existing-Home Sales Price Rose at an Annual
Pace of 23.4% in June 2021
With inventory of homes for sale at 20% below the level measured one year ago, the median existing-home sales price rose 23.4% year-over-year to $363,300 in 2021, the second highest pace on record since 1999.
Existing-homes priced at below $250,000 accounted for 28.5% of sales. One year ago, homes in this price range were 41.2% of the market.
The median prices rose at double-digit pace across all regions, led by the Northeast (23.4%, $412,800), followed by the South (21.4%, $311,600), the Midwest (18.5%,$278,700), and the West (17.6%, $507,000). “
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