US Home Sales Drop as Prices Hit Record High
US home sales fell 2.4% in June to 4.09 million homes sold. The average home sale price hit an all-time high of $440,600.
That is up 1.8% compared to one year ago. Mortgage rates stayed high.
This made buying a home harder for many people. Buyers pulled back from the market as a result.
Still June sales were 2.8% higher than June 2025. The National Association of Realtors said wages are growing faster than home prices.
That means buying a home is slightly easier than it was a year ago. But high prices and high borrowing costs are still squeezing buyers.
Klear Note — Home prices and mortgage rates affect how many people can afford to buy. When both rise together, fewer buyers enter the market.
Key Terms 2
- mortgage rate The interest rate charged on a home loan each year
- National Association of Realtors A large US group that tracks home buying and selling data