A slight decrease in mortgage rates in the month of June definitely helped buyers, said Yun.
Housing affordability is improving ever so modestly, but it is moving in the right direction.
While there's still an affordability challenge broadly, conditions are "moving towards a more neutral market," Orphe Divounguy, a senior economist at Zillow.
Total housing inventory registered at the end of June was 1.32 million units, up 3.1% from May and 23.4% from a year ago, according to NAR.
Competition is easing fastest in the South, where all major southern markets except Dallas and Raleigh are either neutral or buyer-friendly, according to the June 2024 Zillow Housing Market Report.
Persons:
Yun, Freddie Mac, Lawrence Yun, Chen Zhao, there's, Selma Hepp
Organizations:
Sdi, CNBC, Investors, National Association of Realtors, Zillow
Locations:
Redfin, Dallas, Raleigh