Housing inventory improved slightly last month as 1.25 million units were listed for sale, up 3.3 percent from May. This follows four consecutive months of declines in inventory levels nationwide and helped boost existing home sales by 1.4 percent in June. This latest data is from the National Association of Realtors.
The unsold housing inventory currently sits at a 2.6-month supply, based on the current sales pace. This is up from 2.5-months in May.
Properties remained on the market for just 17 days in June, unchanged from the month prior but down from 24 days last year.
Meanwhile, conforming no-point 30-year fixed mortgage rates are averaging 2.75 percent and 15-year rates are near 2.00 percent.
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