June Monthly Market Comparison-HAR Report
June marked the second consecutive month where home sales declined. Single-family pending sales outpaced 2023 figures, jumping 8.4 percent compared to last June.
Total property sales were down 13.6 percent and total dollar volume declined 12.2 percent to $3.8 billion. Active listings, or the total number of available properties, continued to increase with 33.8 percent more listings for sale now compared to June 2023.
Months of inventory expanded from a 3.0-months supply last June to 4.3 months, which is the highest since October 2012 when there was a 4.4-months supply. Housing inventory nationally stands at a 3.7-months supply, according to the latest report from the National Association of Realtors (NAR). A 4.0- to 6.0-months supply is generally considered a “balanced market” in which neither buyer nor seller has an advantage.