June home sales rose 2.8% year-over-year but remain historically low, with seasonally adjusted annual rates staying low for over three years. Months-of-supply exceed pre-pandemic levels, though inventory growth has slowed. Regional differences exist, with some areas seeing price declines and others price increases. Homebuilders face challenges due to excess completed and under-construction homes, leading to price reductions. New and active listings grew slightly but remain below pre-pandemic norms.
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