June’s residential and rental stats have been released by the Tucson Association of Realtors.
While much of the country was working on a phased reopening of the
economy in June, real estate activity continued to strengthen as well.
Nationally, June showing activity as tracked by ShowingTime was up
notably from the COVID-19 depressed levels in recent months but was also
up from June 2019, reflecting pent-up demand by prospective home
buyers.
New Listings decreased 17.7 percent for Single Family but increased 1.0
percent for Townhouse/Condo. Pending Sales increased 31.7 percent for
Single Family and 27.6 percent for Townhouse/Condo. Inventory decreased
48.9 percent for Single Family and 24.7 percent for Townhouse/Condo.
Median Sales Price increased 4.0 percent to $260,000 for Single Family and
14.6 percent to $177,500 for Townhouse/Condo. Days on Market
decreased 10.0 percent for Single Family and 9.1 percent for
Townhouse/Condo. Months Supply of Inventory decreased 50.0 percent for
Single Family and 20.0 percent for Townhouse/Condo.
While buyer activity continues to be robust, seller activity continues to be a
bit softer, with fewer homes being listed for sale than a year ago. Many
housing experts believe sellers remain reluctant to list their homes due to
continued concerns over COVID-19, which was beginning to see a
resurgence in June. Until sellers regain confidence, housing inventory will
continue to be constrained during what is expected to be an active summer
selling season.