In its June housing report last week, Realtor.com showed for-sale inventory increasing, recovering at its fastest yearly pace of all time, soaring18.7% year over year. However, there are still 53.2% fewer homes for sale compared with June 2019.
“Our June data shows the inventory recovery accelerated, posting the second straight month of active listings growth in nearly three years. We expect these improvements to continue,” said Danielle Hale, chief economist at Realtor.com, but she added, “The typical buyer has yet to see meaningful relief from quickly selling homes and record-high asking prices.”
According to the Mortgage Bankers Association, the average home purchase loan size was $405,200, which is down from $413,500 for the week that ended June 24, but still 21% higher than the same week one year ago.
