Homebuyers have found slim pickings lately, but a chart of newly updated data shows real estate listings are finally starting to pick up a bit.
The number of homes listed for sale in June ticked up 8.8% to 549,000, the second straight month of increases, according to Realtor.com’s monthly report on Thursday. Not only that, but the number of new listings jumped 10.9% to 447,000, the first time new listings didn’t drop from May to June since Realtor.com started keeping track in 2016. Low inventories have been holding back sales lately, but that might be about to change.
Despite the increased numbers of homes for sale, prices continued to rise, with the median home listing for $385,000, 12.7% higher than a year ago.
"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," said Realtor.com Senior Economist George Ratiu in a commentary. "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 home buying continue into the fall as buyers jump at new opportunities."
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