$440,600 marked a record U.S. median existing-home price in June, even as sales of previously occupied homes slowed to a 4.09 million annual rate.
Sales missed economists' roughly 4.21 million forecast and have stayed near a 4 million pace since 2023, well below the historical norm of about 5.2 million.
Mortgage rates in April and May ranged from 6.23% to 6.53%—the highest since late August—while higher oil prices and inflation expectations after the U.S.-Iran war kept borrowing costs elevated.
Home prices still rose 1.8% from a year earlier and have increased annually for 36 straight months, underscoring NAR's view that tight supply is worsening affordability.
The housing market remains stuck in a slump that began in 2022; existing-home sales were at a 30-year low last year and are up just 0.7% in the first half of 2026.