Updated
Updated · Salem Reporter · Jul 13Salem Housing Inventory Rebounds Above 700 Listings as June Adds More Than 300 Homes
2 articles · Updated · Salem Reporter · Jul 13Summary
- More than 700 active listings were on Salem’s market at the end of June, marking a rebound after inventory had declined steadily since last summer.
- Over 300 homes were newly listed in June, helping lift supply even though the market remains short of the inventory level associated with balance.
- Dustin Johnsen of OnPoint Community Credit Union said the added inventory gives buyers more leverage because sellers face more competition.
- Salem’s June pickup points to easing supply pressure, but the market still has not returned to conditions typical of a balanced housing market.
Insights
Is Salem's housing inventory boom a sign of market health or a warning of economic distress for local families? With new housing laws enacted, will high interest rates and building costs make these supply-side solutions meaningless for today's buyers?