by Sales declined 2.4% from May, falling in the Midwest, South and West and rising in the Northeast
WASHINGTON — June existing home sales rose from the prior year but declined from May, according to the latest report from the National Association of Realtors.
Sales rose 2.8% to a seasonally adjusted rate of 4.09 million from June 2025 and declined 2.4% from May.
Year-over-year sales rose in the Midwest, South and West and were flat in the Northeast, and month-over-month sales increased in the Northeast and declined in the Midwest, South and West, the NAR said.
Single-family home sales rose 3.3% to 3.73 million from June 2025, or 92% of the total, but declined 2.4% from May. The median home price was $446,400, up 1.8% from June 2025.
Condominium and co-op sales represented the balance at 360,000, decreasing 2.7% from last year and the same amount from May. The median condominium price was $380,000, up 1.6% from June 2025.
Activity was driven partly by mortgage rates, which were at a 30-year fixed rate rate of 6.49%. Citing Freddie Mac, the NAR said this was down from 6.82% in June 2025 and up from 6.44% in May.
“The back-and-forth in monthly home sales activity, driven by mild fluctuations in mortgage rates, shows how sensitive homebuyers are to affordability conditions,” said NAR Chief Economist Lawrence Yun. “However, job gains — more than half a million since the beginning of the year — will continue to provide support for the housing market.”
He added that while the median home price has reached an all-time high, many homes are becoming more affordable.
“Affordability is better than a year ago because wage growth is outpacing home price growth,” Yun said. “However, progress on long-term housing affordability could be hampered if inventory growth continues to stall. Without consistent gains in inventory, home prices can accelerate. It is critical to introduce more supply to the market to widen the opportunity for homeownership.”
The inventory of existing homes in June was 1.56 million units, up 1.3% from June 2025 and down .6% from May. This represents a 4.6-month supply of unsold homes, level with June 2025 and up from 4.5 months in May, the NAR reported.
By region, activity was as follows:
+ In the Northeast, existing home sales totaled 480,000, unchanged from June 2025 and up 2.1% from May. The median price was $564,800, up 3.9% from June 2025.
+ In the Midwest, sales totaled 980,000, up 2.1% from June 2025 and down 3% from May. The median price was $346,600, up 2.7% from June 2025.
+ In the South, existing home sales totaled 1.89 million, up 3.8% from June 2025 and down 3.6% from May. The median price was $377,700, up .9% from June 2025.
+ In the West, sales totaled 740,000, up 2.8% from June 2025 and down 1.3% from May. The median price was $633,600, up .9% from June 2025.
Other highlights of the report were as follows:
+ Homes were on the market for 28 days, up from 27 days in June 2025 and down from 29 days in May.
+ A third of sales were first-time homebuyers, up from 30% in June 2025 and down from 35% in May.
+ A quarter of sales were cash sales, down from 29% in June 2025 and unchanged from May.
+ 13% of transactions were individual investors or second-home buyers, down from 14% in June 2025 and also down 14% from May.
+ 2% of sales were distressed sales including foreclosures and short sales, down from 3% in June 2025 and up from 1% in May.
