U.S. Existing Home Sales Decline in June Amid Rising Prices
TL;DR
The NAR report shows a 2.7% decline in U.S. existing-home sales in June, with a record high median price of $435,300 driven by low inventory and high mortgage rates, which are impacting first-time buyers. Sales decreased in most regions except the West, and the market faces challenges from undersupply and elevated mortgage rates, though a potential decline in rates could boost future sales.
Topics:businessreal-estate#home-sales#housing-prices#inventory#mortgage-rates#real-estate#regional-trends
- NAR Existing-Home Sales Report Shows 2.7% Decrease in June National Association of REALTORS®
- U.S. Homes Are Not Selling, and Prices Continue to Rise The New York Times
- June home sales drop as prices hit a record high CNBC
- U.S. home sales fade in June as national median sales price hits an all-time high of $435,300 NBC News
- US existing home sales dip to 9-month low on high costs Yahoo Finance
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