Home sales fell in June as median price hit a record
Previously owned home sales declined in June despite more listings than a year earlier, as affordability pressures kept buyers cautious.
By Daniel Okafor · Business Editor
2 min read
U.S. sales of previously owned homes fell in June while the median sale price climbed to a record, according to the National Association of Realtors. The figures show that high borrowing costs and elevated prices continued to hold back buyers during a key month for the housing market.
The Realtors group said existing-home sales declined 2.4% from May to a seasonally adjusted annual rate of 4.09 million units. CNBC reported that housing analysts had expected a modest monthly increase.
Compared with June 2025, sales were 2.8% higher, according to the association. The data cover completed transactions, meaning many of the deals were likely signed in May, when CNBC reported the average 30-year fixed mortgage rate was still rising.
Lawrence Yun, chief economist for the National Association of Realtors, said in a release that small movements in mortgage rates have been enough to shift buyer activity. Yun said job growth of more than half a million positions since the start of the year should still help support housing demand.
Supply remains below a balanced level
The association said there were 1.56 million homes for sale at the end of June. That was down 0.6% from May but up 1.3% from a year earlier.
At June’s sales pace, available inventory equaled a 4.6-month supply, according to the Realtors group. CNBC reported that a six-month supply is considered balanced between buyers and sellers.
With supply still limited, prices kept rising. The National Association of Realtors said the median existing-home price reached $440,600 in June, up 1.8% from June 2025 and the highest level on record.
CNBC reported that June is typically the strongest month for both sales and prices. Yun warned in the association’s release that slower inventory growth could weaken progress on affordability, saying more homes need to come to market to broaden access to ownership.
Higher-priced homes outperformed
The Realtors group’s data showed a sharper divide by price tier. Sales of homes below $100,000 fell 1.7% from a year earlier, while sales of homes priced from $100,000 to $250,000 rose by less than 1%.
Activity was stronger in more expensive segments, according to the association. Sales of homes priced between $750,000 and $1 million rose nearly 14% from a year earlier, and sales above $1 million increased 18%.
Regional results were uneven. The National Association of Realtors said sales fell in June from May in every region except the Northeast.
Buyer composition also shifted. All-cash purchases accounted for 25% of sales, down from 29% a year earlier, while first-time buyers represented 33% of transactions, up from 30% in June 2025, according to the association.
This story draws on original reporting from CNBC.