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Median existing-home price hits record $440,660 in June as affordability slips
NAR said the median price for existing single-family homes rose to $446,400 in June, while economists noted home prices are still outpacing wage growth.
The typical price of an existing home in the United States reached a record $440,660 in June, according to data cited by Yahoo Finance and sourced to the National Association of Realtors. The report said this was the 36th straight month of year-over-year price gains.
Yahoo Finance also highlighted that the median price for an existing single-family home climbed to $446,400 in June, while condominiums and co-ops reached $380,000. It noted that even as mortgage rates have eased from 2023 highs, borrowing costs plus cumulative home-price appreciation are continuing to pressure household budgets.
According to PNC Economics Research, cited in the Yahoo Finance story, housing affordability remains low as wage growth slows and home price growth stays stronger. The report also referenced LendingTree saying fewer than four in 10 households that do not already own a home can afford a typical starter home priced around $200,000.
The story further pointed to Redfin research estimating households need roughly a $117,000 annual income to comfortably afford the average home, based on April 2026 data. It also quoted NAR chief economist Lawrence Yun, who tied the affordability problem to the need for more housing supply, while noting a bipartisan affordability bill remains in political limbo.