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U.S. existing-home sales fall 2.4% in June as median price hits $440,600 record

U.S. existing-home sales fall 2.4% in June as median price hits $440,600 record

National Association of Realtors data showed sales rose 2.8% from a year earlier, while inventory slipped 0.6% from May and remained below pre-pandemic norms, underscoring persistent affordability strains.

Fact Check
The primary NAR release via GlobeNewswire confirms every element of the claim: a 2.4% monthly decline, a record median price of $440,600, a 2.8% year-over-year sales gain, inventory down 0.6% from May, and improved affordability (index rose from 95.5 to 102.3 versus June 2025). CNBC and Reuters (via Yahoo Finance) independently corroborate the same figures. All headline numbers align exactly across the primary source and two independent secondary reports.
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Summary

U.S. existing-home sales fell 2.4% in June from May but rose 2.8% from a year earlier to a seasonally adjusted annual rate of 4.09 million, missing economists’ expectations for about 4.21 million. The median price for all housing types climbed 1.8% from a year earlier to a record $440,600, extending annual price gains to 36 straight months, while inventory totaled 1.56 million units, down 0.6% month over month and up 1.3% from June last year, representing a 4.6-month supply. The market has remained sluggish relative to a historical norm closer to a 5.2 million annual pace, with affordability constrained by elevated mortgage rates and limited supply. Lawrence Yun, NAR’s chief economist, said affordability remains a major challenge and called for more inventory, while first-time buyers accounted for 33% of purchases in June, below the historical 40% share. Buyers have seen some relief in asking prices in parts of the market, with Realtor.com reporting a 2.5% annual drop in median list prices in June, though regional trends varied widely.

Terms & Concepts
  • seasonally adjusted annual rate: A monthly sales pace adjusted for seasonal patterns and expressed as a yearly rate.
  • inventory: The number of homes listed for sale and still unsold at a given time.
  • month supply: How long current homes for sale would last at the present sales pace.