US Existing Home Sales Fall 2.4% in June as Prices Hit Record High
U.S. existing home sales unexpectedly fell 2.4% in June to a seasonally adjusted annual rate of 4.09 million units, missing economists’ forecasts of 4.20 million. The median home price reached an all-time high of $440,600, while mortgage rates remained near 6.6%, pushing buyers to the sidelines. Inventory edged up 1.3% year-over-year but remains tight. Sales declined in the Midwest, South, and West, with only the Northeast seeing gains. A bipartisan housing affordability bill passed by Congress awaits President Trump’s signature.
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US Pending Home Sales Slump in June Amid Affordability Challenges
The US pending home sales index fell 5.4% in June to 72.5, a sharper decline than expected, as higher mortgage rates and elevated house prices deterred prospective buyers. The data, reported by the National Association of Realtors, reflects ongoing affordability challenges in the housing market. The index measures contract signings for previously owned homes, which are considered a leading indicator of closed sales. The decline suggests continued weakness in the housing sector, with buyers struggling to afford homes amid persistent inflation and rising borrowing costs. Analysts note that the slump underscores the impact of monetary policy tightening on consumer demand for housing.
The Business TimesUS pending home sales slump in June amid affordability challenges
The US pending home sales index fell 5.4% in June to 72.5, a sharper decline than expected, as higher mortgage rates and elevated house prices continued to deter prospective buyers. The data, released by the National Association of Realtors, underscores persistent affordability challenges in the housing market. The index measures contract signings for previously owned homes, which are considered a leading indicator of closed sales. The decline suggests that the housing market remains under pressure from high borrowing costs and limited inventory, potentially slowing economic momentum in the residential sector.
The Business TimesExisting Home Sales Drop in June as Median Prices Hit All-Time High
In June 2026, existing home sales in the United States fell by 2.4% to a seasonally adjusted annual rate of 4.09 million units, according to data reported by Seeking Alpha. Simultaneously, the median existing-home price reached an all-time high of $440,600, indicating persistent affordability challenges in the housing market. The decline in sales volume, coupled with record prices, suggests a market under pressure from high borrowing costs and limited inventory. The report highlights ongoing trends in the U.S. residential real estate sector, with implications for homebuyers, sellers, and the broader economy.
All Articles on Seeking AlphaUS existing home sales dip as affordability concerns linger
Sales of previously owned US homes fell 2.4% in June to an annualised rate of 4.09 million, according to data reported by The Business Times Singapore. The decline saps some of the recent momentum in the US home resale market, as persistent affordability concerns continue to weigh on buyers. The report highlights ongoing challenges in the housing sector, including high prices and borrowing costs that are dampening demand. The data reflects contract closings for the month, indicating a slowdown in the market after a period of relative strength.
The Business TimesUS existing home sales dip as affordability concerns linger
Sales of previously owned US homes fell 2.4% in June to an annualized rate of 4.09 million, missing economists' expectations of 4.2 million, according to the National Association of Realtors. The decline was driven by stubbornly high mortgage rates near 6.6%, which continue to challenge affordability. The median sales price rose 1.8% year-over-year to a record high of $440,600. Inventory of existing homes increased 1.3% annually to 1.56 million, though the NAR chief economist called the gain 'minuscule' and said much larger increases are needed. Regional weakness in the US South, the largest home-selling region, dragged down national results, with sales there falling 3.6%. First-time buyers accounted for 33% of sales, down from 35% in May. The step-down saps recent momentum in the resale market, though job gains continue to provide support.
The Business TimesUS existing home sales unexpectedly fall in June as prices hit record high
U.S. existing home sales unexpectedly fell 2.4% in June to a seasonally adjusted annual rate of 4.09 million units, according to the National Association of Realtors. The decline came as house prices reached a record high of $440,600 and mortgage rates remained elevated, pushing potential buyers to the sidelines. Economists had forecast a rise to 4.20 million units. Sales increased in the Northeast but declined in the Midwest, South, and West. The inventory of previously owned homes fell 0.6% to 1.56 million units, while supply increased 1.3% year-over-year. First-time buyers accounted for 33% of sales, up from 30% a year ago. The National Association of Realtors' chief economist noted that home buyers remain highly sensitive to affordability conditions. A bipartisan housing affordability bill passed by Congress awaits President Trump's signature, which he has withheld pending a separate voting bill.
Yahoo FinanceUS existing home sales unexpectedly fall in June as prices hit record high
U.S. existing home sales unexpectedly fell 2.4% in June to a seasonally adjusted annual rate of 4.09 million units, according to the National Association of Realtors. The decline came as house prices reached a record high of $440,600 and mortgage rates remained elevated, pushing potential buyers to the sidelines. Economists had forecast a rise to 4.20 million units. Sales increased in the Northeast but declined in the Midwest, South, and West. The inventory of previously owned homes fell 0.6% to 1.56 million units. The housing shortage, estimated at 1.2 million units by the National Association of Home Builders, continues to keep prices elevated. A bipartisan housing affordability bill passed by Congress remains unsigned by President Donald Trump pending a separate voting bill. First-time buyers accounted for 33% of sales, below the 40% needed for a robust market.
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