More inventory is coming online in the resale home market, which could signify the frenzy is peaking.
From May to June, the inventory of unsold homes increased 3.3% to 1.25 million– equivalent to 2.6 months of the monthly sales pace, according to the National Association of Realtors.
The inventory total was still down 18.8% from one year ago (1.54 million). Unsold inventory is up from May's 2.5-month supply but down from 3.9 months in June 2020.
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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.
