The Real House Price Index shows a national price decline of 1.3% from May to June, with real house prices up 3.9% from a year ago, indicating the need for further inventory saturation for improved affordability.
Housing supply in the U.S. increased by 21% year over year in June, with rising inventory in all four regions. Most markets witnessed inventory growth, except New York and Cleveland. Affordability improvements were seen in markets like Tampa, while others like Miami and Jacksonville saw prices rise despite increased inventory.
Markets like Raleigh, Austin, Portland, Tampa, and Denver experienced price drops, coinciding with significant inventory increases. However, some Florida markets like Orlando, Miami, and Jacksonville saw inventory growth alongside rising prices, showcasing varied affordability trends despite increased supply.
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