While the overall supply of housing inventory continues to grow across the U.S., new listings aren’t hitting the market as quickly as they have been. The latest RE/MAX National Housing Report – which surveyed real estate trends from 50 U.S. metro areas – found that in June 2024, the number of newly listed homes was down 5.2% compared to May 2024.
In terms of annual data, however, June had far more new listings than June 2023 – a year-over-year increase of 8.3%. That trend was especially apparent in these three markets:
Burlington, Vermont
Increase in New Listings over June 2023: 25.3%
Median Price of Homes Sold: $477,500
Average Days on Market: 22
Phoenix, Arizona
Increase in New Listings over June 2023: 25%
Median Price of Homes Sold: $450,600
Average Days on Market: 53
San Antonio, Texas
Increase in New Listings over June 2023: 20%
Median Price of Homes Sold: $314,945
Average Days on Market: 63
To learn more about what this could mean for homebuyers and sellers, check out the most recent National Housing Report coverage on RE/MAX News.
If you’re ready to make a move this summer, get in touch with a local RE/MAX agent today.
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Written by LEAH CURTIS
