The National Association of Realtors analyzed how sales of existing homes have changed over the last 10 June months.
The data below shows what the current months’ data looks like in comparison to the last 10 June months and how that might compare to the “ten year June average,” which is an average of the data from the past 10 June months. The data also shows comparisons from June 2009 compared to 2019.
Comparing June of 2009 to June 2019, the median price of a home increased in the US and all the four regions. The West led all regions with a gain of 87.7% followed by the South with 52.3%. The US had an incline in price of 57.2% while the Midwest experienced a gain of 47.7%. The Northeast had the smallest gain in price of 29.9%.
The decrease in inventory over the last 10 June months has been very noticeable. Comparing inventory figures from 2009 to 2019, inventories across the US fell and are down 40.1%. Single-family inventory is down 36.9%, and condominiums have fallen significantly at 56.1%. From 2011 to 2012, inventories had their biggest dip in both single-family and condominiums with condominiums having the bigger decline of 30.0%. US overall inventory had a decline of 25% while single-family fell 24.5%. Inventory figures over the ten-year period have declined substantially, having the only increases in 2014. Inventories continued to decline in 2015 through 2018. Inventories nationally were flat in June; they declined 0.6% for single-family, but were up 5.7% for condominiums.