. 1.32 million units

Existing home sales
  • Prior month 4.11M
  • existing home sales -5.4% versus -0.7% last month
  • inventory at 4.1 months vs 3.7 months prior or 1.32 million units
  • Median price $426,900 which is up 4.1% from June 2023 (record high)
  • These are closed sales when rates were above 7%
  • Average days is 22 (down from 24 days) but up from 18 days last year
  • First-time buyers were responsible for 29% of sales in June, down from 31% in May but up from 27% in June 2023.
  • All-cash sales accounted for 28% of transactions in June, unchanged from May and up from 26% one year ago
  • Individual investors or second-home buyers, who make up many cash sales, purchased 16% of homes in June, identical to May and down from 18% in June 2023.

All four major US regions posted sales declines:

  • Northeast:

    • Sales: Decreased 2.1% from May to an annual rate of 470,000, down 6% from June 2023.
    • Median Price: $521,500, up 9.7% from one year earlier.

  • Midwest:

    • Sales: Decreased 8% from May to an annual rate of 920,000, down 6.1% from June 2023.
    • Median Price: $327,100, up 5.5% from June 2023.

  • South:

    • Sales: Decreased 5.9% from May to an annual rate of 1.76 million, down 6.9% from June 2023.
    • Median Price: $373,000, up 1.7% from last year.

  • West:

    • Sales: Decreased 2.6% from May to an annual rate of 740,000, unchanged from a year ago.
    • Median Price: $629,800, up 3.5% from June 2023.

Houses are sitting, but inventory is increasing too:

Existing home sales

Other housing data from the NAR on sales:

Sales