Could this be the summer of selling? U.S. homesellers hope so.
June saw about 29 percent more homes on the market compared to the year before, according to data from Realtor.com. It was the 20th straight month of growth of active listings, or those not marked as “pending.”
Across the country, the total number of active listings hit about 1.1 million in June. This figure is still about 13 percent below pre-pandemic levels, but June was the second month in a row where active listings tipped over the 1 million mark.
New listings and pending listings were also up in June year over year.
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All of the top metropolitan areas Realtor.com analyzes notched yearly increases in their active listings. The Las Vegas region — the 31st largest in the country — recorded the greatest yearly growth, of about 78 percent. However, the number of pending listings fell by about 13 percent, and the median listing price was nearly flat.
The metro with the smallest growth was Milwaukee, though the area had the largest increase in new listings year over year, with about 18.5 percent. The number of active listings there was essentially the same compared to the previous year, ticking up by 0.8 percent. Pending listings were down by about 16 percent.
The New York metro area experienced the third-lowest growth in its active listings, with just under 10 percent. New York also had the second-highest increase in new listings, which rose by about 18.3 percent year over year.
Across the U.S., homes lingered on the market in June five days longer than the same time last year, continuing a 15-month trend of annual growth. Last month, sellers waited 53 days to find buyers for their houses.
The Miami, Orlando, Tampa and Jacksonville markets held the top four slots for the longest median time spent on the market — well over two months. Homes in Hartford and Milwaukee, meanwhile, are off the market in under a month.
Additionally, more than one-fifth of U.S. listings had price cuts last month, which was the sixth straight month of increasing discounts. The Denver region reported the greatest share of its listings with a discount, as more than a third of properties there had slashed prices. On the other end, just under 9 percent of listings in the Hartford and New York areas reported price reductions, the lowest among the country’s top metros.
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