June 2018, Existing Home Sales in June Dropped 6% in SWMI and Nationally
“At the halfway point of the year, the number of houses sold dropped 6 percent from a year ago (1595 vs.1694). The inventory of houses for sale continued to fall behind each month when compared to the same month in 2017. At the end of June, the inventory was down 9 percent. We had 1,798 houses for sale for buyers in Berrien, Cass and the westerly 2/3 of Van Buren counties. At this level there was 5.9-months supply of houses for sale. At the end of May there was 1,704 houses for sale. In 2010, the inventory was 16.9-months supply or 3679 houses,” stated Alan Jeffries, Association Executive, Southwestern Michigan Association of REALTORS®, Inc.
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