The median existing-home sales price hit an all-time high for the second month in June, according to the National Association of Realtors.
June’s median existing-home sales price was $426,900, up 4.1% from June 2023, when the median price was $410,100.
Meanwhile, existing home sales fell 5.4% from May to June to a seasonally adjusted annual rate of 3.89 million.
All four major U.S. regions posted sales declines in June. Year-over-year, sales waned in the Northeast, Midwest and South but were unchanged in the West.
“We’re seeing a slow shift from a seller’s market to a buyer’s market,” NAR Chief Economist Lawrence Yun said in a statement. “Homes are sitting on the market a bit longer, and sellers are receiving fewer offers. More buyers are insisting on home inspections and appraisals, and inventory is definitively rising on a national basis.”
