The active listing inventory added 84 homes in the past two-weeks, up 3%, and now totals 2,847, its highest level of the year. From June 1st through June 15th, there were 15% fewer homes that came on the market compared to 5-year average between 2015 to 2019 (2020 was skewed do to COVID-19), 391 less. Last year, there were 4,701 homes on the market, 1,854 additional homes, or 65% more.
Demand, the number of pending sales over the prior month, decreased by 126 pending sales in the past two-weeks, down 4%, and now totals 3,458, its largest decrease of the year. Mortgage rates remain at historically low levels, maintaining demand’s current brisk pace. Last year, there were 3,762 pending sales, 9% more than today. It was the first time the prior year was higher than the current year dating back to June 2020.