Zillow June Report: Sales Up 5.9%, Listings Rise 3%
Z•Zillow’s June Market Report shows U.S. home sales climbed 5.9% year-over-year with new listings up 3%, while total inventory rose just 0.9%, the smallest annual gain since December 2023. Concurrently, the average 30-year mortgage rate fell to 6.36%, driving typical monthly payments 2.5% below last year.
1. Sales and Listing Rebound
Zillow reported 381,125 homes sold in June, a 5.9% increase from a year earlier and a 9.2% jump from May, while new for-sale listings rose 3% to 403,811 properties, marking a reversal from May’s decline.
2. Lower Rates Boost Affordability
The average 30-year fixed mortgage rate declined to 6.36%, down 4 basis points since the previous day, pushing the typical monthly payment to $1,884—2.5% lower than a year ago (assuming a 20% down payment, excluding taxes and insurance).
3. Inventory and Home Value Trends
Active inventory grew by just 0.9% year-over-year—the smallest gain since December 2023—while the Zillow Home Value Index climbed 0.7% month-over-month to a typical U.S. home value of $372,057, up 1.1% from a year ago.
