CNBC·3 min read·medium
June home sales disappoint as prices reach an all-time high
D
Diana Olick
✦AI Summary
Existing home sales in the US fell by 2.4% in June as high mortgage rates and record-high median prices continue to strain affordability. Despite the drop in sales, inventory remains tight, keeping upward pressure on home prices.
High mortgage rates coupled with record-high prices are causing homebuyers to pull back.
economybusiness
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