According to the National Association of Realtors, existing home sales fell in June as the median sales price climbed to the highest price ever recorded for the second consecutive month. All four major U.S. regions posted sales declines. Year-over-year, sales waned in the Northeast, Midwest, and South but remained unchanged in the West.
Total sales of existing homes – completed transactions that include single-family homes, townhomes, condominiums and co-ops – receded 5.4% from May to a seasonally adjusted annual rate of 3.89 million in June. Year-over-year, sales also dropped 5.4% (down from 4.11 million in June 2023).