The number of homes available to buyers climbed 18.7% in June, the sharpest year-over-year increase in the history of the report.

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The increase ends a six-month string of monthly declines, the National Association of REALTORS® said.

New-home inventory rose to 444,000 homes in May from 437,000 homes in April, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development reported.  

Meanwhile, existing-home sales slid 3.4% from April to a seasonally adjusted annual rate of 5.41 million, according to the National Association of REALTORS®. 

Realtor.com’s updated 2022 forecast sees housing demand returning to pre-pandemic levels.

Nationwide, sales fell 8.5% annually and rose 5.8% monthly, as rising interest rates and home prices weighed on homebuyers’ purchasing power, RE/MAX said.

New-home completions rose during the month, however, with the increased inventory representing a rare bright spot in an otherwise gloomy government report. 

Active listings in May were the highest in 18 months, according to the latest Northwest MLS housing activity report.

Nationally, the index posted its highest annual increase ever.

With affordability reduced, some buyers are pulling back from the market forcing sellers to adjust their price expectations.

Soaring home prices and markedly diminished inventory are suppressing housing affordability for many nationwide.

Nevertheless, home prices are expected to continue rising through the end of the year, according to the National Association of REALTORS®. 

Seattle rated in the top 10 for electric vehicles, vegan options, public transportation and emissions.

The rate of new single-family home sales fell 16.6% from March’s revised number, while the median sales price jumped to $450,600 from March’s revised median house price of $435,000. 

Seattle’s median home price hit a new high, while total transactions and inventory improved from month to month.