U.S. sales of previously occupied homes fell in June to the slowest pace since September 2024, the Associated Press reports.
The news comes as mortgage prices remain elevated, and the national median sales price rose to an all-time high of $435,300.
The National Association of Realtors said Wednesday that existing home sales were down 2.7% in June from May to a seasonally adjusted rate of 3.93 million units.
Compared with June of last year, sales were flat and fell short of the 4.01 million pace economists had expected.
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Home prices, meanwhile, increased on an annual basis for the 24th consecutive month.
