Market Pullback Continues in June
Metropolitan Monthly Monitors: Metro Resale Index July 2010
Metropolitan Monthly Monitors: Metro Resale Index July 2010
Urban City Economic Analysis
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- Resale markets continue to lose momentum. June’s sales were below the May numbers in 18 of our 28 areas, and below their 10-year average in 21 markets.
- The number of sellers continues to decline. Listings fell in 16 markets. (Still, in most markets, listings remain at historically elevated levels.)
- Cooling markets left June’s sales-to-listings ratio lower in 19 areas. Price growth was also lower in 18 markets—and looks set to decelerate further.
- Another sign of cooling markets is the fact that there are now eight “buyer’s” markets—significantly above levels earlier this year.
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