First reported by ZeroHedge
US Existing Home Sales Unexpectedly Dropped In June, Just Off Record Lows
US existing home sales fall 2.4% in June as median price hits record $440,600
Existing home sales in the U.S. fell 2.4% in June to a seasonally adjusted annual rate of 4.09 million units, below economists' expectations of 4.21 million. Despite the slowdown in sales, the national median home price rose 1.8% year-over-year to an all-time high of $440,600, intensifying affordability challenges for prospective homebuyers. Sales were up 2.8% compared to June last year.
Key quotes
Existing home sales fell 2.4% last month from May to a seasonally adjusted annual rate of 4.09 million units
Sales rose 2.8% compared with June last year
The national median sales price increased 1.8% in June from a year earlier to $440,600
From the article
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. The National Association of Realtors said Thursday that existing home sales f
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