June 2024 Housing Market Update

The Realtor.com® economics team video update gives you the relevant economic and real estate information you need to know to navigate the housing market as a homebuyer, home seller, or industry professional.

In June, Chief Economist Danielle Hale examines economic, labor market and inflation indicators that show gradual slowing. She recaps the June Fed meeting and her take on what it will take to see a rate cut.

Danielle notes that shelter inflation, based largely on rent data, continues to be a sore spot even as the  May Realtor.com Rental Report shows ongoing market rent declines. Economist Jiayi Xu digs into the gap in that report.

Inflation has already been good news for mortgage rates which dropped again. Still, the longer-run context is important and is weighing on existing home sales, new home sales and pending home sales.

Meanwhile, Danielle outlines findings from the latest Realtor.com housing data. In the May Housing Trends Report report, authored by Economic Data Manager Sabrina Speianu, for-sale inventory continued to rise, but long-term price trends are squeezing buyers even as they create record home-equity for homeowners.

Coping with higher costs, Sr. Economic Analyst Hannah Jones found that some shoppers are making larger down payments.

Finally, as we celebrate both Father’s Day and Homeownership month in June, Danielle shares findings from a Realtor.com survey on how dads help with home buying and the tasks of homeownership.

Find details and Realtor.com® housing data for download at realtor.com/research.  And follow us on  X (formerly twitter): @rdc_economics, for real time updates.

Have an economic question you want the team to answer? Leave a note in the comments below!

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Learn More about the home buying process: "Home Buying 101: How Do I Get Started?"
How to Buy a Home: How Do I Get Start...
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