Housing Inventory Growing

Housing inventory nationwide was 19 percent higher in June than a year ago but it’s still nearly half of what it was before Covid, according to Realtor.com. “We expect to see additional inventory growth in July, building on accelerated improvements see throughout June,” saidDanielle Hale, chief economist at Realtor.com. 

The expanding supply has not yet eased the high prices. The median listing price in June hit another record high of $450,000, according to Realtor.com. Annual gains are moderating slightly but are still up nearly 17 percent, in part because the share of larger, more expensive homes is rising.