While much of the country was working on a phased reopening of the economy in June, real estate activity continued to strengthen as well. Nationally, June showing activity as tracked by ShowingTime was up notably from the COVID-19 depressed levels in recent months but was also up from June 2019, reﬂecting pent-up demand by prospective home buyers.
New listings decreased 5.3 percent for residential homes but increased 1.4 percent for townhouse/condo homes. Pending sales increased 12.6 percent for residential homes and 17 percent for townhouse/condo homes. Inventory decreased 31.3 percent for residential homes and 11.2 percent for townhouse/condo homes.
Median sales price remained ﬂat at $235,300 for residential homes but increased 9.5 percent to $180,000 for townhouse/condo properties. Days on market increased 2.6 percent for residential homes but remained ﬂat for townhouse/condo homes. Months supply of inventory decreased 30.0 percent for residential homes and 3.7 percent for townhouse/condo homes.
While buyer activity continues to be robust, seller activity continues to be a bit softer, with fewer homes being listed for sale than a year ago. Many housing experts believe sellers remain reluctant to list their homes due to continued concerns over COVID-19, which was beginning to see a resurgence in June. Until sellers regain conﬁdence, housing inventory will continue to be constrained during what is expected to be an active summer selling season.
2020 Housing Reports Archive
2019 Housing Reports Archive
2018 Housing Reports Archive