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US existing-home sales decline further in June
Posted on July 29, 2024 |
Existing home sales, including single-family homes, townhomes, condos, and co-ops, fell 5.4% in June to an annual rate of 3.89 million.
Sales were down 5.4% compared to June 2023, dropping from 4.11 million.
All regions saw declines in year-over-year sales except the West, which remained stable.
Housing inventory at the end of June was 1.32 million units, a 3.1% increase from May and a 23.4% rise from last year.
Unsold inventory was at a 4.1-month supply, up from 3.7 months in May and 3.5 months in April.
The median home price in June hit a record $426,900, up 1.1% from June 2023, with price increases in all regions.