Key Points:
- Existing-home sales fell for the fifth straight month to a seasonally adjusted annual rate of 5.12 million.
- Existing-home sales fell 5.4% in June from May and 14.2% from one year ago.
- At $416,000, the median existing-home sales price is the highest on record, after passing $400,000 for the first time in May.
- The median existing-home sales price has increased 13.4% from one year ago.
- This marks 124 consecutive months of year-over-year increases, the longest-running streak on record.
- First-time buyers were responsible for 30% of sales in June, up from 27% in April but down from 31% in June 2021.
- The Right Facts will continue to monitor home sales.