
Home Sales Dipped 1.2% From May to June, the Largest Late-Spring Decline Since At Least 2012
Still, homes sold at their fastest pace and for their highest prices on record.
Tim Ellis has been analyzing the real estate market since 2005, and worked at Redfin as a housing market analyst from 2010 through 2013 and again starting in 2018. In his free time, he runs the independently-operated Seattle-area real estate website <a href="https://seattlebubble.com/" title="Seattle Bubble"><em>Seattle Bubble</em></a>, and produces the <a href="https://dispatches.fm/" title="Dispatches from the Multiverse">"Dispatches from the Multiverse" improvised comedy sci-fi podcast</a>.

Still, homes sold at their fastest pace and for their highest prices on record.

Even though more homes are hitting the market, homebuyers appear to have tapped out of the market as pending sales continued to slip.

Some buyers have hit their limit on record-high prices, but others may return to the market with more homes to choose from and less competition.

The typical home sold for its highest price on record, at its fastest pace on record, and for 2.3% above list price, the largest sale price premium on record.

Redfin’s Homebuyer Demand Index was down 14% from its peak 9 weeks ago, and pending sales have declined 10% from their early May peak.

Home prices were up 24%, a record high due to the dip in home prices at the start of the pandemic a year earlier.

Still, homes sold at their fastest pace and for their highest prices on record.

Even though more homes are hitting the market, homebuyers appear to have tapped out of the market as pending sales continued to slip.

Some buyers have hit their limit on record-high prices, but others may return to the market with more homes to choose from and less competition.

The typical home sold for its highest price on record, at its fastest pace on record, and for 2.3% above list price, the largest sale price premium on record.

Redfin’s Homebuyer Demand Index was down 14% from its peak 9 weeks ago, and pending sales have declined 10% from their early May peak.

Home prices were up 24%, a record high due to the dip in home prices at the start of the pandemic a year earlier.