New listings make a comeback in June as home prices hit new highs


SANTA CLARA, California, July 1, 2021 / PRNewswire / – New listings showed signs of a return in June as home prices broke a new record for the fifth consecutive month in $ 385,000, according to Realtor.com® Monthly Housing Report released today. While the number of homes for sale remained significantly below normal with a 43.1% drop from a year ago, June marks a significant improvement from the 50.9% drop last month.

“While there is still a significant shortage of homes for sale and home prices have just hit a new high, our June data report shows good news on the horizon for buyers,” said Realtor.com® Senior economist George ratiu. “Inventory declines have improved from the steep drops seen earlier in the pandemic as sellers returned to the market in a variety of price ranges across the country. The improvement we have seen in the growth of new listings from May to June shows that sellers are entering the market historically later in the season, which could mean that we will see home buying continue in the future. fall as buyers seize new opportunities.

According to Realtor.com® data, June new listings increased 5.5% year-on-year and 10.9% last month. Among the largest US metropolises, the 10 markets with the highest increases in new listings posted gains of 20% or more year-over-year.

While there were fewer homes for active sale on a typical June day compared to last year and the June average from 2017 to 2019, the rise in newly listed homes may give buyers more homes to choose from and potentially more time to make decisions. If these trends persist, lower inventories and price growth could continue to moderate as the housing market returns to a more normal pace of activity as the second half of 2021 approaches, Ratiu said.

Inventory decline continues to slow as new listings deviate from typical summer trend
Inventories in the United States were down 43.1% year-on-year last month, representing 415,000 fewer homes for sale on a typical June day compared to the same time last year, but an improvement from decreases of more than 50% year-on-year observed. in March, April and May. As more sellers entered the market in June compared to last year, growth in new listings was still 14.4% lower than the average June levels seen from 2017 to 2019.

Compared to the national rate in June, inventories made bigger strides towards recovery in the 50 largest metros, falling 40.5% year-over-year, as sellers in major cities added 11. 7% more listings on the market. New registrations grew by more than 20% year-over-year in the 10 subways that recorded the largest gains, including Milwaukee (+ 44.7%), San jose (+ 40.7%) and Cleveland (37.9%).

Listing prices hit latest high as growth slows
In June, the median listing price in the United States increased 12.7% year-over-year $ 385,000, marking the fifth consecutive month of record prices seen according to Realtor.com® data, which dates back to 2012. However, the pace of year-over-year price growth slowed for the second consecutive month in June, from 15.2% in May.

The growth of registration prices in the largest US metros is slowing faster than the national pace, increasing by 5.3% year-on-year in June, below the growth levels seen in May (+ 7.4%) and in April (+ 11.6%). Among the 50 largest markets in the country, Austin, Texas continued its 2021 streak taking the top spot in price growth, up 34.3% year-over-year. Riverside, California, and Tampa also recorded some of the biggest price increases from a year ago, each increasing by 19.6%.

Homes continue to soar from the market as buyers compete for stocks
The typical house spent 37 days on the market in June, 35 days faster than last year and 21 days faster than the average market time of 2017, 2018 and 2019, a more normal market. Denver and Rochester tied for fastest time on the market in June with a 12-day median, followed by Nashville (15 days).

Homes sold even faster in America’s 50 largest subways, averaging 31 days on the market and down 23 days year-on-year. The major cities that saw the biggest declines in days to market were Miami (-52 days), Raleigh (-48 days), and Pittsburgh (-48 days).

June 2021 Overview of accommodation by the 50 largest metros

Subway

Median registration price

Median listing price year-over-year

Number of active ads over one year

Number of new announcements over a year

Median days on the market

Median days in the market year-on-year

Atlanta-Sandy Springs-Roswell, Georgia.

$ 395,000

14.0%

-52.7%

3.3%

33

-20

Austin-Round Rock, Texas

$ 524,000

34.3%

-59.7%

18.8%

16

-33

Baltimore-Columbia-Towson, Maryland.

$ 342,000

-2.1% *

-36.3%

26.1%

32

-18

Birmingham-Hoover, Alabama.

$ 273,000

-0.9% *

-47.4%

7.7%

37

-25

Boston-Cambridge-Newton, Mass.-NH

$ 699,000

6.4%

-25.0%

13.0%

22

-13

Buffalo-Cheektowaga-Niagara Falls, NY

$ 247,000

2.9%

-27.5%

6.5%

29

-21

Charlotte-Concord-Gastonia, North Carolina-SC

$ 389,000

7.4%

-49.5%

7.3%

27

-29

Chicago-Naperville-Elgin, Ill.-Ind.-Wis.

$ 355,000

4.4%

-31.9%

3.2%

33

-13

Cincinnati, Ohio-Ky.-Ind.

$ 350,000

3.9%

-35.1%

8.5%

32

-19

Cleveland-Elyria, Ohio

$ 219,000

-3.4% *

-23.4%

37.9%

35

-27

Columbus, Ohio

$ 300,000

-9.8%

-27.2%

26.2%

15

-28

Dallas-Fort Worth-Arlington, Texas

$ 387,000

8.7%

-59.0%

-5.0%

29

-19

Denver-Aurora-Lakewood, Colorado.

$ 600,000

9.8%

-54.0%

6.2%

12

-24

Detroit-Warren-Dearborn, Michigan.

$ 279,000

1.7%

-36.6%

8.8%

21

-18

West Hartford East Hartford Hartford, Connecticut

$ 339,000

14.9%

-62.9%

-4.6%

28

-19

Houston-The Woodlands-Sugar Land, Texas

$ 366,000

12.6%

-43.8%

7.8%

36

-22

Indianapolis-Carmel-Anderson, Ind.

$ 277,000

-7.6% *

-43.3%

17.0%

34

-18

Jacksonville, Florida

$ 350,000

10.2%

-62.6%

-5.5%

37

-34

Kansas City, Missouri-Kan.

$ 332,000

-7.5% *

-36.6%

15.2%

38

-19

Las Vegas-Henderson-Paradise, Nevada

$ 400,000

18.9%

-48.5%

8.7%

25

-27

Los Angeles-Long Beach-Anaheim, California

$ 1,025,000

5.6%

-26.8%

10.7%

44

-17

Louisville / Jefferson County, Ky.-Ind.

$ 277,000

-4.3% *

-36.5%

19.8%

24

-23

Memphis, Tenn.-Miss.-Ark.

$ 240,000

-7.2% *

-41.0%

15.0%

36

-21

Miami-Fort Lauderdale-West Palm Beach, Florida

$ 447,000

11.9%

-51.6%

-7.8%

62

-52

Milwaukee-Waukesha-West Allis, Wisconsin.

$ 300,000

-18.9% *

-27.6%

44.7%

28

-21

Minneapolis-St. Paul-Bloomington, Minn.-Wis.

$ 365,000

-1.3%

-35.2%

12.7%

31

-9

Nashville-Davidson – Murfreesboro – Franklin, Tennessee.

$ 430,000

10.2%

-65.3%

-24.2%

15

-20

New Orleans-Metairie, La.

$ 346,000

15.4%

-37.4%

10.5%

44

-36

New York-Newark-Jersey City, NY-NJ-Pa.

$ 618,000

7.0%

-9.4%

-0.9%

55

-23

Oklahoma City, Oklahoma.

$ 285,000

-2.7% *

-52.8%

-4.4%

37

-12

Orlando-Kissimmee-Sanford, Florida

$ 356,000

11.3%

-57.1%

1.5%

36

-37

Philadelphia-Camden-Wilmington, PA-NJ-Del.-Md.

$ 335,000

2.3%

-21.0%

24.5%

37

-22

Phoenix-Mesa-Scottsdale, Arizona.

$ 465,000

15.8%

-45.8%

27.8%

29

-29

Pittsburgh, Pennsylvania.

$ 262,000

6.1%

-37.4%

1.1%

40

-48

Portland-Vancouver-Hillsboro, Oregon-Wash.

$ 557,000

11.4%

-37.9%

22.6%

30

-19

Providence-Warwick, RI-Messe.

$ 425,000

-1.7% *

-42.5%

19.5%

24

-29

Raleigh, North Carolina

$ 411,000

7.0%

-71.7%

-21.4%

15

-48

Richmond, Virginia

$ 352,000

-0.5%

-40.4%

25.6%

37

-20

Riverside-San Bernardino-Ontario, California

$ 526,000

19.6%

-46.5%

16.0%

32

-29

Rochester, New York

$ 243,000

-1.9% *

-30.9%

8.1%

12

-17

Sacramento – Roseville – Arden-Arcade, California

$ 592,000

14.5%

-43.1%

13.1%

26

-14

San Antonio-New Braunfels, Texas

$ 325,000

3.8%

-57.9%

5.0%

34

-31

San Diego-Carlsbad, California

$ 830,000

7.5%

-13.3%

18.4%

36

-3

San Francisco-Oakland-Hayward, California

$ 1,058,000

0.8%

-25.3%

15.0%

29

-3

San José-Sunnyvale-Santa Clara, California

$ 1,299,000

5.4%

-22.0%

40.7%

24

-12

Seattle-Tacoma-Bellevue, Washington

$ 687,000

9.8%

-41.2%

22.7%

26

-9

Saint Louis, Missouri-Ill.

$ 258,000

3.2%

-34.9%

16.3%

43

-27

Tampa-St. Petersburg-Clearwater, Florida

$ 350,000

19.6%

-59.1%

4.0%

32

-39

Virginia Beach-Norfolk-Newport News, Virginia-NC

$ 315,000

-4.5% *

-40.9%

6.9%

23

-28

Washington-Arlington-Alexandria, DC-Va.-Md.-W. Virginia.

$ 525,000

-0.9% *

-9.0%

36.3%

29

-8

* Median listing price declines in these markets largely reflect a change in inventory mix due to the increased number of newly listed homes in lower price points.

About Realtor.com®
Realtor.com® makes buying, selling, renting and living in homes easier and more rewarding for everyone. Realtor.com® pioneer of the digital real estate world over 20 years ago, and today, through its website and mobile applications, it is a trusted source of information, tools and professional expertise that help people to move with confidence every step of their way home. Using proprietary data science and machine learning technology, Realtor.com® matches buyers and sellers with local agents in their market, making it easier to buy and sell a home. For professionals, Realtor.com® is a trusted provider of consumer connections and branded solutions that help them succeed in today’s on-demand world. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary of Move, Inc. under a perpetual license from the National Association of REALTORS®. For more information visit Realtor.com®.

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SOURCE Realtor.com

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