Sales of previously occupied U.S. homes decreased in June to a seasonally adjusted annual rate of 3.93 million units, the slowest pace since September. This represents a 2.7% decline from May and flat sales compared to June last year. The national median sales price rose to an all-time high of $435,300, marking the 24th consecutive month of price increases. The housing market slump, exacerbated by high mortgage rates, has limited homebuyer purchasing power despite an increase in the number of available homes.
Sales of previously occupied U.S. homes slid in June to the slowest pace since last September as mortgage rates remained elevated and national median sales prices hit unprecedented levels.
Existing home sales fell 2.7% last month from May to a seasonally adjusted annual rate of 3.93 million units, and home prices increased for the 24th consecutive month.
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