General

Existing home sales decreased 2.7% in June and stayed the same over the year. Housing inventory slipped slightly to 1.53 million units, reflecting a 0.6% decline from May but a 15.9% jump from last year. The median existing home price was $435,300, up 2.0% from last year. The Northeast, Midwest and South registered decreases in existing home sales, while the West posted a modest monthly increase.

Single-family home sales fell 3.0% in June but were up 0.6% over the year, with the median price increasing 2.0% from June 2024 to $441,500. Condo and co-op sales stayed the same over the month at 360,000 units in June, but fell 5.3% from last year. Meanwhile, the median price for condos and co-ops rose 0.8% from the prior year to $374,500.

Homes were typically on the market for 27 days in June, unchanged from May but up from 22 days in June 2024. First-time buyers made up 30% of sales in June, the same as May but up from 29% at the same time last year.