The number of homes for sale was down compared to this time last year. Inventory levels market-wide decreased 28.3 percent to 4,193 units.

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Months’ supply of inventory was down 21.4 percent since last year at 1.1 months. That’s well below the 5 months that’s considered balanced. Percent of List Price Received at Sale remained at 100.7 percent since last year.

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Months’ supply of inventory was down 23.5 percent to 1.3 months. A balanced market is about 5-6 months of supply. 1.3 months of supply indicates a pretty extreme sellers’ market.
[youtube https://www.youtube.com/watch?v=2J9OfhEQkPE&w=560&h=315]

There are some signs of a potential market shift, even though both new and active listings are down compared to last year and sales are up compared to 2019.
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In new construction, home builders continue to struggle to meet buyer demand, as housing starts nationwide dropped 7% last month, according to the Commerce Department.
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[youtube https://www.youtube.com/watch?v=NWQ9VQ1JXtE&w=560&h=315]

The increase in sales prices comes with a slight decline in existing home sales nationwide, as homebuyers struggle with declining affordability amid a lack of inventory, forcing some buyers to simply wait it out in hopes of more inventory and less competition.

[youtube https://www.youtube.com/watch?v=Ed9D9ufXBho&w=560&h=315]

Home prices are still on the increase and that is not likely to change during the summer months. The Median Sales Price increased 16.1 percent to $342,500 for the month.