U.S. existing-home sales edged up 0.8% month-over-month to a seasonally adjusted annual rate of 4.03 million units, exceeding economists’ expectations, although sales were down 0.7% year-over-year, according to the National Association of REALTORS® (NAR). On a monthly basis, sales increased in the
Midwest, Northeast, and South but decreased in the West.
• Single Family Closed Sales were up 3.3 percent to 5,516.
• Townhouse-Condo Closed Sales were up 11.9 percent to 1,966.
• Adult Communities Closed Sales were up 8.7 percent to 686.
• Single Family Median Sales Price increased 6.8 percent to $625,000.
• Townhouse-Condo Median Sales Price decreased 1.4 percent to $420,000.
• Adult Communities Median Sales Price increased 8.2 percent to $384,000.
Heading into June, there were 1.54 million units for sale across the country, a 6.2% increase from the previous month and a 20.3% improvement over the same period last year, representing a 4.6-month supply at the current sales pace, according to NAR. Despite the additional supply, home prices have continued to rise nationwide, albeit at a slower pace than during the pandemic, climbing 1.3% year-over-year to $422,800 as of last measure.