Real Estate
Home›Real Estate›Residential›Existing-home sales dip in June, median price hits rec…
Existing-home sales dip in June, median price hits record high
Sales slipped 2.4% to a seasonally adjusted annual rate of 4.09 million, while the median existing-home price rose to $440,600, a new record.
Existing-home sales eased in June after a six-month high in May, with modest mortgage-rate changes continuing to sway buyer activity, according to Mortgage News Daily. The National Association of REALTORS reported that sales fell 2.4% from May to a seasonally adjusted annual rate of 4.09 million, but remained 2.8% higher than a year earlier. NAR Chief Economist Lawrence Yun said the monthly back-and-forth reflects how sensitive buyers are to affordability conditions, and he pointed to ongoing job growth as support for housing demand despite affordability challenges.
Inventory moved little during the month, suggesting supply gains may be losing momentum. Total inventory slipped to 1.56 million units, down 0.6% from May, and represented a 4.6-month supply, up slightly from May and unchanged versus a year ago.
Prices continued to climb as sales softened. The median existing-home price rose to a new record of $440,600, up 1.8% from June 2025 and marking 36 straight months of annual price increases. The Housing Affordability Index rose to 102.3 from 95.5 a year earlier, and Yun cautioned that slower inventory growth could eventually lift home prices if additional supply does not reach the market.