June Housing Market Slips as Record-High Prices Persist
TL;DR Summary
US existing-home sales fell 2.4% in June to 4.09 million (SA), with inventory at 1.56 million (down 0.6% MoM, up 1.3% YoY) for about a 4.6‑month supply. The median price reached a record $440,600, up 1.8% YoY. All-cash buyers accounted for about 25% of sales (down from 29% a year ago), while first-time buyers were 33% of transactions. Activity remains strongest at the higher end, with regional declines elsewhere except the Northeast. Analysts say limited inventory and high mortgage rates keep prices elevated, even as job gains support demand.
- June home sales disappoint as prices reach an all-time high CNBC
- US Existing Home Sales Dip as Affordability Concerns Linger Bloomberg.com
- Spring Home Selling Season Ends on a Bad Note WSJ
- Existing Home Sales Pick Up in June. Why Buyers Are Returning. Barron's
- NAR Existing-Home Sales Report Shows 2.4% Decrease in June National Association of REALTORS®
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