478K home sales predicted for July – MoxiWorks Home Sales Predictor

Top things to know this month:

  • There were 491K home sales across the US in May (MoxiWorks was within 5% with a prediction of 517K)
  • The latest prediction says we should see 510K home sales in June and 478K in July
  • Sold listings continue to hover between 2016 and 2017 totals after starting the year between 2019 and early 2020 levels

We’re 6 months into 2023 and the housing market continues to keep everyone on their toes. The most recent numbers from our Home Sales Predictor are out. In May there were 491K home sales across the US, which means we continue to hover between 2016 and 2017 sold listings totals.
Jan-Dec Sold Listings 2016-2023

Looking ahead the prediction model shows that we should see 510K home sales in June, with a slight drop in July with 478K. While we all want to continue to see the totals increase, this month over month decrease in July is common with Summer seasonality.

MoxiWorks Home Sales Predictor June 2023

 

MoxiWorks CEO York Baur says “We are in a supply constrained market as people are holding onto their low rates, keeping inventory extremely low. It’s going to take a long time to build up the inventory we need while people navigate this market. Right now, it’s imperative that brokers and their agents are helping clients see a path to selling their house. Making the two ends meet in a way that the consumer has not thought about and helps them see a positive path to selling their home.”

Until next month.