Housing Market Update: Growth in Sales and Inventory Trends
Growth in Home Sales and Inventory in Recent Months
June has brought a noticeable upward trend in the housing market, with a significant increase in home sales across several metropolitan areas. This month marks the fifth consecutive increase in home sales throughout the 50 surveyed metro areas. Specifically, sales rose by 1.3% compared to the previous month and saw an impressive increase of 5.7% when compared to the same month last year.
Additionally, inventory levels continued their upward trajectory. The count of available homes for sale experienced a month-over-month rise of 3.9%, contributing to a substantial year-over-year increase of 30.1%. The median sales price for homes reached an impressive $440,000, which indicates a 2.8% increase from May and a 2.1% increase from the same time last year.
Challenges Presented by New Listings
However, not everything is escalating; the emergence of new listings has taken a dip, showing a decline of 12.8% from May, signifying the most significant monthly decrease since December's numbers. Nevertheless, this reflects a 1.4% increase compared to the same time last year, marking the 16th consecutive month of year-over-year growth in new listings.
“Overall, the national housing market remains resilient, with increased home availability and movement translating to new opportunities. This is a positive development,” stated Erik Carlson, the CEO of RE/MAX Holdings, Inc. He added that buyers now have more choices available, which is beneficial for those looking to make informed decisions in their home buying journey.
In June, Chicago led the nation in sales, witnessing a remarkable 12.9% increase compared to last year. Mike Opyd, a Premier Broker with RE/MAX in Chicago, emphasized the mental transition sellers and buyers are going through, allowing more properties to enter the market. This shift incentivizes buyers to act quickly before prices escalate further.
Market Insights and Statistics
Here are a few notable metrics from June:
- Buyers in June paid an average of 99% of the asking price, similar to May’s figures but below last June’s average of 100%.
- The months' supply of homes available for sale rose to 2.7 months, up from approximately 2.5 months in May and much higher than the 2.1 months recorded last year.
Specific highlights and local market results for June illustrate the continuing trends. In the 50 surveyed metro areas, new listings increased on average by 1.4% year-over-year, despite a recent decline. Fayetteville, Arkansas experienced a staggering growth rate of 24.9%, while other notable cities such as Las Vegas, Nevada, and Manchester, New Hampshire, followed with increases of 18.7% and 16.8%, respectively. Conversely, areas like Trenton, New Jersey, and Philadelphia, Pennsylvania, registered declines of 25.2% and 24.0% in new listings.
Closed Transactions Reveal Market Dynamics
In terms of closed transactions, the June data indicates an increase of 5.7% from last year and 1.3% from last month. New Orleans topped the list with a 17.1% increase, showcasing strong buyer interest, followed by Manchester, New Hampshire, and a tie between Anchorage, Alaska, and Milwaukee, Wisconsin, both seeing a 16.0% increase. On the other hand, Miami, Florida faced the sharpest decline at -8.4%.
The closed transactions overview highlights numerous cities with significant year-over-year growth. Areas such as Des Moines, Iowa, also celebrated remarkable sales increases, marking a healthier competitive landscape in the national real estate scene.
Price Analyses in the Housing Market
The median sales price across the surveyed regions in June stood at $440,000, an increase of 2.1% from last year. Noteworthy price hikes were seen in markets like Cleveland, Ohio, which boasted a 9.0% year-over-year increase, while Anchorage, Alaska, and Fayetteville, Arkansas showed gains of 8.5% and 7.5%, respectively. Conversely, Bozeman, Montana saw a decrease in median sales price with a drop of 7.7%.
Market Ratios and Metropolitan Comparisons
The close-to-list price ratio for June maintained an average of 99%, the same as May, displaying the balance between buyer expectations and market conditions. Notably, Hartford, Connecticut, outperformed others, reaching a high close-to-list ratio of 105.3% followed closely by San Francisco, California.
The data on the months' supply of inventory indicates a robust increase in available properties, with Miami, Florida leading at 7.4 months of supply, a remarkable jump compared to 4.9 months last year. Honolulu, Hawaii, followed with 5.9 months, underscoring the evolving dynamics in these markets.
About RE/MAX Holdings
As a premier global real estate franchisor, RE/MAX Holdings (NYSE: RMAX) operates with a vast network of over 145,000 agents across roughly 9,000 offices in more than 110 countries. The company, founded in 1973 by Dave and Gail Liniger, remains a leader in residential real estate sales, driven by an entrepreneurial spirit that allows agents considerable independence in their operations. RE/MAX agents are deeply embedded in their communities, supporting various charitable organizations annually.
Frequently Asked Questions
What is the main trend observed in the housing market for June 2025?
The housing market in June 2025 showed increased sales, a rise in inventory, and steady pricing trends.
Which city reported the highest increase in home sales?
Chicago reported the highest increase in home sales with a 12.9% growth compared to June last year.
How did new listings change in June compared to May?
New listings dropped by 12.8% from May, marking the most significant decline since last December.
What was the median sales price for homes in June 2025?
The median sales price for homes in June 2025 was $440,000, reflecting a 2.1% year-over-year increase.
What company operates the RE/MAX network?
RE/MAX, LLC, a subsidiary of RE/MAX Holdings, operates the RE/MAX network.
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