Overview

• Existing-home sales dropped 2.7% in June to a 3.93 million annual pace, the slowest monthly reading since last September.
• The median price of previously owned homes reached $435,300, marking a 24th consecutive year-over-year increase.
• Total inventory rose 15.9% year-over-year to 1.53 million units, equal to a 4.7-month supply but still below pre-pandemic norms.
• The 30-year fixed mortgage rate averaged about 6.8% in June, keeping affordability strained and buyer sentiment muted.
• President Donald Trump’s public calls for the Fed to cut interest rates have heightened political pressure on borrowing costs.