Existing Home Sales dropped 1.7% from May to a seasonally adjusted annual rate of 5.27 million in June.
Low inventory levels are still a factor in the market. The current supply of homes for sale is at 4.4 months, which is less than the optimal 6-month supply.
Median home prices were up 4.3% from June 2018, hitting $285,700. This marked the 88th consecutive month with year-over-year price gains.
Contact me at (805) 630-2869 to get in this incredible market while you can. With inventory still lower than 6 months' supply, it is a good time to put your house up for sale. Buyers are stable, with the ability to lock in super-low interest rates and make the move into a home financially easy.