Was the spring housing market so hot that prices will just increase less fast this summer?
Or will house prices plateau in June like they usually do?
The number of house sales usually falls by about 10% from May to June.
Will pent-up demand keep the number of house sales from falling this June?
Or will 27% higher house prices cause the number of house sales to fall more than normal this June?
The number of houses hitting the market usually falls from May to June.
Will new listings fall this June, too?
Or will we see some “catch-up” from the low numbers of houses hitting the market in January and February?
In 2020, we saw a large catch-up in the number of houses hitting the market in August and September from the low number of houses hitting the market in April, May, and June.
We’re many, many months away from a “normal” market but I’m expecting the summer market to be a lot different than the manic spring market. We should know by the end of June, certainly by mid-August.
Click on the graph to go to the full-size, interactive version.
This information can vary a lot in different parts of metro Phoenix. Your real estate agent can find the data for your specific city or zip code at The Cromford Report.