As home listing prices break another new record, more homeowners are looking to take advantage and list their homes for sale. New listings in June rose 5.5% year-over-year and are up 10.9% over the prior month, according to a new report from realtor.com\u00ae.<\/p>\n
The uptick in new listings may give buyers more homes to choose from and could offer a hopeful sign for the real estate market.<\/p>\n
Still, the inventory challenges in the housing market are far from over: The number of homes for sale still remains 43% lower than last year.<\/p>\n
\u201cAlthough there\u2019s 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,\u201d says George Ratiu, senior economist at realtor.com\u00ae. \u201cInventory declines improved over the steep drops seen earlier in the pandemic as sellers stepped back into the market in a variety of price ranges across the country. 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\u2019ll see home buying continue into the fall as buyers jump at new opportunities.\u201d<\/p>\n
If the progress in new listings continues, Ratiu adds that the housing market could return to a more normal pace of activity by the second half of 2021.<\/p>\n
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