June 2025 Housing Market: Inventory Continues to Climb as Buyer Activity Remains Robust

More Homes Available as Activity Remains Robust Across Price Tiers

The U.S. housing market in June 2025 continued its trajectory toward equilibrium, marked by an ongoing increase in available inventory and consistent, healthy buyer demand. Our latest Market Pulse Report provides a clear picture of these dynamics as we move deeper into the summer season.

Inventory Growth Strengthens Buyer Position

The supply of homes actively for sale continued its significant expansion in June 2025. Total inventory surged by an impressive 23.1% compared to June 2024 and is up 44.9% from 2023. This marks the highest inventory level recorded since 2021, a strong indication that supply is steadily improving. This growth has pushed the months of inventory to 4.84 months, signifying a market that, while still generally neutral, is increasingly offering buyers more options and potential negotiating power.

For the month of June, net new listings saw a slight year-over-year decrease of 3.1%. This was primarily due to a substantial 30.7% increase in removals, outweighing a modest 2.8% rise in new listing volume. This suggests a market where homes are coming on and off with increased frequency.

Despite the dip in net new listings for the month, contract volume showed remarkable strength. In June 2025, 309,261 properties went under contract, representing a robust 7.3% increase compared to June 2024. This consistent year-over-year growth in contracts highlights that buyer interest and activity remain vigorous. The median days on market also increased slightly to 42 days, up 7.7% from 39 days a year prior, indicating a slightly slower, but still active, pace of transactions.

Price Gains Persist Alongside Increased Seller Adjustments

The median listing price for single-family homes across the U.S. reached $470,897 in June 2025, reflecting a 2.0% increase year-over-year. The median closed price also saw positive movement, climbing 2.8% year-over-year to $449,278. Median price-per-square-foot for both listed and closed properties also recorded year-over-year gains.

However, sellers are increasingly proactive in adapting to the evolving market. Price cuts continued their upward trend, increasing by 32.3% compared to June 2024. While the median sale-to-list-price ratio remains strong at 98.7%, this rise in price reductions suggests sellers are strategically adjusting prices to attract buyers in an environment with more choices.

Rental Market Sees Continued Inventory Growth

The single-family rental market continued to expand significantly. Rental inventory was up 21.8% year-over-year and 39.6% compared to 2023. This substantial increase in available rental properties appears to be impacting pricing, as the median listed monthly rent saw a slight year-over-year decrease of 1.1% to $2,604.

Price Tier Dynamics: Mixed Listing Trends, Broad Contract Growth

A deeper dive into activity across different price segments reveals varied patterns:

• $0-$200k: Net new listings down 10.6% YoY; contract volume up 10.5%.
• $200k-$400k: Net new listings down 6.3% YoY; contract volume up 7.4%.
• 400k-$600k: Net new listings down 2.5% YoY; contract volume up 6.9%.
• $600k-$1m: Net new listings up 3.3% YoY; contract volume up 6.0%.
• $1m+: Net new listings up 3.2% YoY; contract volume up 6.6%.

This detailed view illustrates that while net new listings decreased in lower price tiers, those segments saw substantial year-over-year increases in contract volume, indicating strong demand for more affordable homes. Higher price tiers, conversely, experienced increases in both net new listings and contract volume.

What This Means for the 2025 Housing Market

June's data underscores a housing market that is actively seeking a new balance. The sustained growth in inventory is undoubtedly a positive development for buyers, offering them a broader selection and potentially more leverage in negotiations. At the same time, the robust year-over-year increase in contract volume confirms that buyer demand remains a powerful force. While home prices continue to show appreciation, the ongoing rise in price cuts suggests that sellers are acutely aware of the evolving market conditions and are adapting their strategies accordingly.

As the housing market progresses through the summer months of 2025, staying informed with precise, data-driven insights is more crucial than ever. HouseCanary is dedicated to empowering real estate professionals and investors with the intelligence they need to confidently navigate these dynamic trends and make sound decisions.

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More in the full report.

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‍Methodology

The Market Pulse Report is an ongoing review of proprietary data and housing market trends from HouseCanary’s nationwide platform, covering 22 listing-derived metrics and comparing real estate data between May 2024 and May 2025.