The number of homes listed for sale surpassed 2019 levels for the first time since the start of the year, according to a report from Redfin.
New listings of homes for the four weeks ending July 4 were up 4% from a year earlier. They were also up 3% from the same period in 2019. This was the first time new listings have surpassed 2019 levels since the beginning of the year.
Even though more homes came on the market, demand began to slip. Redfin Chief Economist Daryl Fairweather says many buyers have backed away from the housing market and are waiting for more homes to be listed.
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
