US home prices hit an all-time high as sales slow and mortgage rates rise
Sales of previously occupied U.S. homes slowed in June, but a key measure of home prices climbed to an all-time high, adding to prospective homebuyers’ affordability challenges
ByALEX VEIGA AP business writer
July 9, 2026, 10:01 AM
Sales of previously occupied U.S. homes slowed in June, but a key measure of home prices climbed to an all-time high, adding to prospective homebuyers’ affordability challenges
Existing home sales fell 2.4% last month from May to a seasonally adjusted annual rate of 4.09 million units, the National Association of Realtors said Thursday. Sales rose 2.8% compared with June last year
The latest sales tally fell short of the roughly 4.21 million pace economists were expecting
Home sales have been mostly hovering close to a 4-million annual pace going back to 2023, far short of the historic norm that is closer to 5.2-million
Iran live updates: As US and Iran trade strikes, US Embassy in Jordan issues alert
- 1 hour ago
Toddler declared dead in drowning incident found alive in hospital morgue: Police
- Jul 8, 4:12 PM
Couple who scaled Empire State Building with banner now face 8 charges
- Jul 1, 8:08 PM
Sales have remained sluggish this year as mortgage rates have mostly trended higher in the months since the spring as the war between the U.S. and Iran began raising expectations of higher inflation. Still, mortgage rates remain below where they were a year ago
Home prices continued to rise nationally last month. The U.S. median sales price increased 1.8% in June from a year earlier to $440,600, an all-time high, NAR said. Home prices have risen on an annual basis for 36 months in a row
Related Topics
- Economy
- Real Estate
