The number of homes listed for sale increased by 4.3% in June to 1.9 million homes, the highest level in the last year, according to monthly data released Monday by

Inventories on reached their highest level in more than a year, suggesting that market fundamentals continue to be strong and that housing supply in many markets is gradually catching up with housing demand, writes Real Estate Economy Watch. At same time, the median age of the inventory increased by just one day in June, suggesting that housing sales are generally keeping pace with new property listings.