Here’s how the stats from June 2021 compare to June 2020.

Here are the summer stats for the June 2021 housing market as they compare to the same time last year:

What does this all mean? Well, there are fewer homes on the market this year than there were last year, but a comparatively high number of homes came on the market in June 2021. Home sales increased by 5% over last year.

“We’re still in a seller’s market, but the market is starting to cool.”

If you look at the Cromford Index (as shown at 1:17 in the video above), you’ll see that the market index has been on the decline since March 2021. It peaked around 515, and as of recording this video, it’s around 400. We’re still in a seller’s market, but the market is starting to cool. If the rate of cooling continues, we could be in a balanced market within around six months. 

So is this good news or bad news? It really depends on your price point, how soon you’re looking to move, and whether you’re using financing or paying cash.

If you’d like more details or you have any questions, give us a call at (602) 738-9943 or send an email to jason@thepenroseteam.com. We’d love to hear from you.