RE/MAX: Home Prices Skyrocket, While Inventory Shrinks – NMP Skip to main content

RE/MAX: Home Prices Skyrocket, While Inventory Shrinks

Jul 23, 2018
Home sales will inch up in 2019 while prices rise at a slower pace, according to a new forecast from the National Association of Realtors (NAR)

The national median sales price in June of $258,500, according to new data from RE/MAX. June’s price marked a new record high in nine years that RE/MAX has tracked the housing market.
 
The record high price came as sales during June dropped 5.5 percent from one year earlier. June was the seventh consecutive month of year-over-year declines in home sales.
 
More dismal data was connected to inventory: 42 of the 54 metro areas tracked a year-over-year inventory shrinkage. The months’ supply of inventory fell to 2.7, an 8.8 percent drop from one year earlier and the smallest inventory figure ever recorded for June. The lack of inventory helped to speed sales: home sold in an average of 42 days last month, only three days lower than the previous nine-year low of 45 days set in July 2017.
 
“Lack of inventory has become a theme for the year,” said RE/MAX CEO Adam Contos. “Having fewer homes to choose from poses a challenge for buyers, who need to be ready to act decisively and quickly.”

 
About the author
Published
Jul 23, 2018
Strong Jobs Report Threatens Mortgage Rate Rally

October hiring more than doubled expectations, pushing Treasury yields higher

Nov 06, 2026
Fed Holds Rates, But Pricing Pressures Persist

Rising Treasury yields and fresh inflation data complicate rate locks, borrower qualification, and lender margins as markets anticipate another hike in December

Oct 29, 2026
Zippy Adds Capital For Manufactured-Home Lending Push

The $20 million investment from Saluda Grade will support expansion beyond 27 states and new loan products across wholesale, retail, and community channels

Oct 16, 2026
Inflation Hits 3.7%, Putting Mortgage Rate Relief At Risk

September’s inflation pickup puts recent rate improvements at risk, potentially eroding affordability gains from lower home prices and seller concessions

Oct 14, 2026
PLACE Acquires Ardley, Expanding Push To Turn Existing Borrowers Into New Loans

The latest deal connects borrower retention technology with Maxwell's origination platform and PLACE's real estate network, creating new opportunities for lenders

Oct 09, 2026
Equifax, TransUnion Launch New Tools To Cut Credit Report Costs

Both bureaus introduce ways to purchase credit scores separately from reports, while Equifax reports growing VantageScore adoption and extends $1 pricing through 2028

Oct 09, 2026