The National Association of Realtors (NAR) reported on Thursday that the median sales price for previously occupied U.S. homes rose to $440,600 in June, an all-time record. This marks a 1.8% increase from June 2025 and the 36th consecutive month of year-over-year price gains since data tracking began in 1999.
While prices reached new highs, the pace of sales declined by 2.4% from May to a seasonally adjusted annual rate of 4.09 million units. This figure fell below the 4.21 million pace forecasted by economists. Despite the monthly drop, total sales were up 2.8% compared to the same period last year.
Market analysts attribute the sluggish sales to mortgage rates, which ranged between 6.23% and 6.53% during the period when many of these contracts were signed. Although these rates are lower than those seen a year ago, they remain elevated relative to the pandemic-era lows that preceded the current housing market slump.
NAR Chief Economist Lawrence Yun stated that affordability remains a significant challenge for prospective buyers and noted a continuing need for increased housing supply. Total seasonally adjusted sales for the first half of 2026 are 0.7% higher than the first half of 2025.