Existing-Home Sales Fall 2.4% in June but Rise 2.8% from Last Year as Median Price Hits Record

Existing-home sales declined 2.4% in June from May to a seasonally adjusted annual rate of 4.09 million units, the National Association of Realtors reported. The figure came in below analyst expectations for a modest monthly gain. June sales remained 2.8% above the level recorded in June 2025.

Lawrence Yun, chief economist at the Realtors group, attributed the monthly volatility to shifting mortgage rates. "The back-and-forth in monthly home sales activity, driven by mild fluctuations in mortgage rates, shows how sensitive home buyers are to affordability conditions," Yun said. He added that job gains exceeding half a million since January would continue to support demand.

The supply of homes for sale stood at 1.56 million units at the end of June, down 0.6% from May but 1.3% higher than a year earlier. At the current sales pace, that inventory represented a 4.6-month supply. The median price of an existing home sold in June reached $440,600, up 1.8% from the prior year and the highest level on record.

One-quarter of transactions were all-cash deals, down from 29% in June 2025. First-time buyers accounted for 33% of sales, an increase from 30% a year earlier. Yun warned that stalled inventory growth could limit long-term affordability gains.