Name: Existing Home Sales Dip In June
Uploaded: 2023-07-22T12:00:51+00:00
Duration: 50 s
Description: 🏡 Exciting update on existing-home sales! In June, there was a slight dip of 3.3% from May, resulting in a seasonally adjusted annual rate of 4.16 million homes sold. However, compared to last year, s

11 months ago

🏡 Exciting update on existing-home sales! In June, there was a slight dip of 3.3% from May, resulting in a seasonally adjusted annual rate of 4.16 million homes sold. However, compared to last year, sales experienced a significant decline of 18.9%. 📉 Despite this, there's good news: total housing inventory at the end of June stood at 1.08 million units, indicating that the market has the capacity to accommodate a doubling of inventory. 📊💪

On the pricing front, the median existing-home price for all housing types reached an impressive $410,200 in June, the second-highest price ever recorded. 😮 The limited supply in the market continues to lead to multiple-offer situations, with approximately one-third of homes being sold above the list price. ⚖️🏷️

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