finance
U.S. Median Existing-Home Price Reaches Record $440,660 in June
The median price of existing homes sold in the United States hit an all-time high of $440,660 in June. The figure marked an 1.8 percent increase from a year earlier and extended a 36-month streak of gains. A bipartisan housing bill remains unsigned by President Trump.
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The median price of existing homes in the United States reached $440,660 in June, according to data cited by CBS News and MarketWatch. The figure represented a 1.8 percent increase from $432,700 a year earlier. Prices have climbed for 36 straight months.
The median price for existing single-family homes stood at $446,400. Condominiums and co-ops had a median of $380,000. Regional single-family medians ranged from $346,600 in the Midwest to $633,600 in the West.
Fewer than four in 10 non-homeowner households can afford a typical starter home priced around $200,000, LendingTree said. Households require roughly $117,000 in annual income to afford the average home, according to Redfin.
Congress passed the 21st Century ROAD to Housing Act last month. The measure aims to remove regulatory barriers to construction, restrict institutional investors from buying single-family homes and encourage zoning reforms.
President Trump canceled a planned signing ceremony in late June and said he would not sign the bill until lawmakers pass the SAVE America Act. A bill becomes law automatically if the president neither signs nor vetoes it within 10 days while Congress is in session.
Reuters reported that existing home sales unexpectedly fell in June.
