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Epic housing shortage may finally be starting to lift, as surprising number of new listings hit market in June

A for sale sign is seen near a house for sale in South Pasadena, California.

Frederic J. Brown | AFP | Getty Images

The epic housing shortage that began before the pandemic and then was exacerbated by it may finally be starting to ease up.

More supply is suddenly coming on the market, which will certainly help frustrated buyers and could, in the longer term, take some of the heat out of home prices.

In June, new listings increased 5.5% year over year and 10.9% compared with May, according to Realtor.com. Among the nation’s larger cities, the 10 markets with the highest new listings increases posted gains of 20% or more from a year ago.

“Although there’s still a significant shorta