U.S. Median Home Price Hit New High in June

u s median home price hit new high in june

Sumary of U.S. Median Home Price Hit New High in June:

  • The median U.S. home price rose to a new high of $363,300 in June as strong demand pushed home sales higher.
  • Existing-home sales rose 1.4% in June from the prior month to a seasonally adjusted annual rate of 5.86 million, the National Association of Realtors said Thursday.
  • The median existing-home price rose 23.4% in June from a year earlier, setting a record high, NAR said, extending steady price increases amid limited inventory.
  • Economists surveyed by The Wall Street Journal expected a 2.2% monthly increase in sales of previously owned homes, which make up most of the housing market.
  • The housing-market boom is easing slightly, as rising prices are prompting more homeowners to list their houses for sale.
  • But the number of homes for sale remains far lower than normal, and robust demand due to ultralow mortgage-interest rates is expected to continue pushing home prices higher.
  • “Home sales continue to run at a pace above the rate seen before the pandemic,” Mr. Yun said.
  • Many homes are selling above listing price and receiving multiple offers.

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