Latest Housing Report For June

Dated: 08/02/2017

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Once again, June’s sales activity was a story of narrow supply and high prices, according to NAR’s Chief Economist Lawrence Yun.

“Closings were down in most of the country last month because interested buyers are being tripped up by supply that remains stuck at a meager level and price growth that’s straining their budget,” Yun explained. “The demand for buying a home is as strong as it has been since before the Great Recession. Listings in the affordable price range continue to be scooped up rapidly, but the severe housing shortages inflicting many markets are keeping a large segment of would-be buyers on the sidelines.”

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