Tag Archives: Months’ Supply of Inventory

"There are many reasons to be encouraged about housing in 2024," said Nick Bailey, RE/MAX President and CEO. "The high mortgage rates and inventory lows of 2023 definitely made for a challenging market, but December data shows some positive signs for the new year."

Housing demand remains strong across the U.S., according to the RE/MAX National Housing Report for June, as home sales rose 5.4% from May, posting the highest median sales price since June 2022's peak price of $426,000.

Based on the current rate of sales, May’s inventory of unsold existing homes grew 3.8% from April to just over 1 million units, equivalent to three months of supply.

While overall home sales remain down 24.4% year-over-year, February home sales increased nearly 17% from January, according to the RE/MAX National Housing Report.