Real Estate
Tight U.S. Housing Market Uncoils With Sellers Ready to Cash Out
- Soaring values, end of lockdowns spur increase in listings
- Price growth expected to cool in shift toward more balance
Photographer: Bryan Tarnowski/Bloomberg
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Prospective home sellers who sat tight as U.S. prices climbed higher and faster than ever during the pandemic are finally emerging to cash out, a step toward easing a dire shortage in the frenzied housing market.
The number of U.S. homes for sale climbed 6.7% in early June from the same weekly period in May, according to Haus, an investment platform for homebuyers. That was the biggest increase since Covid-19 lockdowns took hold last year. Listings rose in 54 of the 100 metropolitan areas measured, including the regions around Philadelphia, New York, Boston, Detroit, Denver and Seattle.