Home sales climb as mortgage affordability improves
New for-sale listings reached 403,811 in June, up 3% from a year ago and reversing May’s annual decline, a sign, Zillow noted, that the shopping season retains some momentum.
The typical US home value held at $372,057, up 1.1% annually and 0.7% from May alone.
Homes took a median of 20 days to go pending, unchanged from a year ago.
A market splitting by price tier
Not all segments are moving in the same direction. Lower-priced homes led both new listing activity growth and sales in June, the first time since 2022 that the entry-level tier has driven listing momentum, according to Zillow.
That shift has direct implications for brokers with first-time buyer clients, where supply had been most restricted.
