National Market News July 2021
Inventory Grows from June While Home Prices, Sales Take Seasonal DipAs reported by RE/MAX from their National Housing Report covering 53 metro areas, July inventory climbed 4.0% from June. This marks the first two consecutive months of inventory gains (month over month) since April & May 2019.
July's 1.3 months of inventory, though, set a new low for the month while July home sales were the third largest total in the 13-year report history.
Housing Market Highlights of the 53 metro areas surveyed:Nick Bailey, President, RE/MAX, LLC is quoted as saying in the report, “The month-over-month gain in inventory, extending a short trend that started in June, was great news – even though the shortage of listings remains a major challenge...In the past 13 months, we’ve seen the top three months of sales activity in 13 years of doing this report. That says a lot about today’s buyers. Given all the factors favoring sellers right now, it’s the buyers who are driving this very active market.”
You can read the full report in PDF format here: RE/MAX NATIONAL HOUSING REPORT FOR JULY 2021