7.12.21
The housing market over the course of the past year has been dominated by sellers amid strong demand and record low home inventory. However, Redfin reports new listings of homes jumped 4% in the four-week period ending July 4 compared with the same period one year ago. It was the first time new supply topped pre-pandemic levels. Additionally, active listings are now up 8% from their 2021 low in early March. Despite the latest data, including a growing number of potential buyers backing away from the market until it subsides, economists still expect the real estate market to remain ultracompetitive.