June is typically the biggest month of the year for home sales, and so far that is proving true for 2023. While the market is slower overall than in 2022, we still saw home sales increase 5.4% from May.
Three more noteworthy highlights from June’s National Housing Report:
June’s new listings were up just 0.5% from May, but down 25% compared to June 2022.
The median sales price in June was $425,000, the highest since June 2022.
The average close-to-list price ratio was 100%, meaning homes generally sold for the asking price.
We find ourselves back in a more typical market. Homes in good condition and good locations are still selling relatively quickly at fair prices. Both buyers and sellers can benefit in this market.