U.S. Median Existing-Home Price Hits Record $440,600 in June

The U.S. median sales price for existing homes reached an all-time high of $440,600 in June, according to data from the National Association of Realtors. Prices rose in every region, led by the Northeast at $564,800 and the West at $633,600.

Existing-home sales declined 2.4 percent from May to a seasonally adjusted annual rate of 4.09 million units. Single-family home sales fell to an annual rate of 3.73 million, while first-time buyers accounted for 33 percent of transactions.

The national inventory of existing homes slipped 0.6 percent month-over-month to 1.56 million units. Active listings remained positive at 1,102,615, and delistings dropped 10 percent year-over-year.

A bipartisan housing bill passed by Congress last month is scheduled to become law on Friday without further action. The measure seeks to increase housing supply and restrict large institutional ownership of single-family homes.