Home sales in June fell to the slowest pace since January with near-historic low inventory for sale

The Associated Press

LOS ANGELES (AP) – Sales of previously occupied U.S. homes fell in June to the slowest pace since January, as a near-historic low number of homes for sale and rising mortgage rates kept many would-be homebuyers on the sidelines.

The national median sales price fell on an annual basis for the fifth month in a row, though fierce competition led to about one-third of homes selling for more than their list price.

Existing home sales fell 3.3% last month from May to a seasonally adjusted annual rate of 4.16 million, the National Association of Realtors said Thursday. Sales sank 18.9% compared with June last year. The national median sales price fell 0.9% from June last year to $410,200.

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7/20/2023 10:57:19 AM (GMT -5:00)