Things aren’t looking so good for people in the market for a home.
June data shows high mortgage rates and record-high prices, CNBC reported.
Home sales fell 2.4% to 4.09 million units from May to June, according to the National Association of Realtors.
However, the dip was an increase of 2.8% compared to the same month last year.
“The back-and-forth in monthly home sales activity, driven by mild fluctuations in mortgage rates, shows how sensitive home buyers are to affordability conditions,” Lawrence Yun, the Realtors’ chief economist, said in a statement. “However, job gains — more than half a million since the beginning of the year — will continue to provide support for the housing market.”
The median price of a home sold in June was $440,600.
