For the first time since February, closed sales fell month over month in July, despite hopes for a strong summer season.

Single-family home permits and completions, meanwhile, also rose, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. 

Home values remain strong in the Bay State as home sale prices break records in July.

Home values also rose nationally from June to July, according to a new Zillow report.

Meanwhile, July’s home sale prices had their highest increase since November.

Greater Boston had the largest increase in housing supply in June, according to a new RE/MAX report.

Median sale prices on Cape Cod rose in June, while inventory was mostly flat, according to a new report from the Cape Cod & Islands Association of Realtors (CCIAOR).

Of survey respondents who made a wedding registry in the past two years, 85% said they would have preferred to receive money they could have used towards a down payment, mortgage payment or other associated homebuying costs.

The industry group issued its housing-market forecast along with its monthly Pending Home Sales Index for June. 

Meanwhile, single-family home sales are down more than 20% from last year.

Lagging inventory has competition heating up in the Greater Boston housing market as supply continues to be unable to keep up with increased buyer demand

The median existing-home price for all housing types in June rose to $410,200, 0.9% less than the all-time high of $413,800 reached in June 2022, the National Association of REALTORS® said. 

Back in 2018, Freddie Mac stated that the country still needed about 2.5 million extra homes in order to meet demand. Then the pandemic homebuying boom depleted already-low inventory levels and high mortgage rates in the second half of 2022 chained many homeowners to their existing low rates.

Low inventory and high demand are buoying builder sentiment in the face of several headwinds. 

The drop in the pace of new-home construction follows a significant surge the month before, according to government statistics. 

For the first time in nearly a year, the average home sold above list price, fueling bidding wars in some markets.