June sales fell 2.4% from May to 4.09 million annual rate
Existing home sales slipped 2.4% in June from the prior month to a seasonally adjusted annual rate of 4.09 million units, the National Association of Realtors reported Thursday. The pace fell short of the roughly 4.21 million annual rate economists had expected, according to FactSet. Sales rose 2.8% compared with June last year.
A key measure of home prices rose to an all-time high during the month, the trade group said. The price record adds to the affordability challenges for buyers.
Home sales have mostly hovered near a 4-million annual pace since 2023, far short of the roughly 5.2 million annual rate that has been the historic norm, according to the NAR data.