June 2024 Monthly Market Reports
What Every Buyer Needs To Know Right Now
- Home Prices
Buy now, or wait? That’s the question prospective homeowners have been struggling to answer in today’s housing market. Home prices have been skyrocketing recently, and the Federal Reserve’s work to tame inflation sent mortgage rates soaring, too. The combination has led many would-be buyers to pick the “wait” side of the equation.
- Inventory
Sellers continued to list their homes in higher numbers this May as newly listed homes were 6.2% above last year’s levels. While a notable deceleration from last month’s 12.2% growth rate, it marks the seventh month of increasing listing activity after a 17-month streak of decline.
- The Value of Homeownership
Research has continued to show that the vast majority of prospective homebuyers overwhelmingly feel buying a home, now or in the future, is the best decision for them in the long run.
