Zillow June Report: Sales Surge 5.9% YoY, Listings Up 3% as Rates Fall
ZG•Zillow’s June report shows U.S. home sales up 5.9% year-over-year and 9.2% month-over-month, while new listings rose 3% annually despite total inventory climbing just 0.9%. The typical U.S. home value hit $372,057 and monthly mortgage payments fell 2.5% to $1,884 on lower rates.
1. Sales and Listing Trends
Zillow’s preliminary June sales nowcast shows 381,125 homes sold, up 9.2% from May and 5.9% from a year earlier. New for-sale listings totaled 403,811, a 3% annual gain, while total active inventory reached 1.39 million, up just 0.9% year-over-year—the smallest rise since December 2023.
2. Affordability Improvements
The typical monthly mortgage payment for a U.S. home fell 2.5% year-over-year to $1,884, driven by mortgage rates declining more than 20 basis points since last year. Lower borrowing costs supported increased buyer engagement and helped reverse spring’s sales slowdown.
3. Home Value Changes
The median U.S. home value reached $372,057 in June, up 1.1% year-over-year and 0.7% month-over-month. Modest appreciation reflects an uneven recovery as affordability gains bolster demand.
4. Pricing Tier Divergence
Lower-priced homes exhibited the highest listing activity growth for the first time since 2022, while higher-priced tiers saw softer inventory gains. This k-shaped trend highlights diverging market dynamics across price segments.
