3rd Look at Local Housing Markets in June
This is the third look at local markets in June. I’m tracking over 40 local housing markets in the US. Some of the 40 markets are states, and some are metropolitan areas. I’ll update these tables throughout the month as additional data is released.
Closed sales in June were mostly for contracts signed in April and May, and mortgage rates, according to the Freddie Mac PMMS, averaged 6.73% in April and 6.82% in May (slightly higher than for closed sales in May).
Closed Sales in June
In June, sales in these markets were up 4.7% YoY. Last month, in May, these same markets were down 3.8% year-over-year Not Seasonally Adjusted (NSA).
Important: There were more working days in June 2025 (20) as in June 2024 (19). So, the year-over-year change in the headline SA data will be lower than for the NSA data.
Notes for all tables:
New additions to table in BOLD.
Northwest (Seattle), Jacksonville Source: Northeast Florida Association of REALTORS®
Totals do not include Atlanta and Denver (included in state totals)
Comparison to 2019 ONLY includes local markets with available 2019 data!
For the previous month (May), there were fewer working days in May 2025 (21) as in May 2024 (22). So, the year-over-year change in the headline SA data was higher than for the NSA data. So, the NAR reported year-over-year change in the headline SA data (-0.7%) were higher than the change in the NSA data (-4.0%) although there are other seasonal factors.
Sales in almost all of these markets are down sharply compared to June 2019.
Last year, the NAR reported sales in June 2024 were at 3.93 million SAAR.
This data suggests that the June existing sales (as reported by the NAR) will likely be close to sales in May (SA) but might show a year-over-year increase after four consecutive months with a YoY decrease.
Months of Supply
Here is a look at months-of-supply using NSA sales for this year and June 2024. Since this is NSA data, it is likely months-of-supply will increase further over the next few months.
New Listings in June
For these areas, new listings were up 5.0% year-over-year.
Last month, new listings in these markets were up 6.4% year-over-year.
New listings are now up year-over-year but down compared to June 2019 activity.
Active Inventory in June
Inventory was up 26.2% year-over-year. Last month inventory in these markets was up 28.2% YoY. Inventory is picking up more than usual seasonally in 2025.
There are significant regional differences in inventory.
More local markets to come!