The U.S. housing market showed resilience in June 2026, with existing home sales climbing 2.8% year over year to an annualized rate of 4.09 million. Despite reaching a record-high median sales price of $440,600, steady job growth continues to bolster buyer confidence even as mortgage rates fluctuate slightly.
Key takeaways
- Existing home sales rose 2.8% compared to last year.
- Median sales prices hit a record high of $440,600.
- Single-family homes outperformed condos in sales volume.
- Inventory levels remain tight at a 4.6-month supply.
Market performance trends
While annual growth remains positive, the market experienced a slight month-over-month decline of 2.8% in June. Single-family home sales saw a 3.3% increase year over year, reaching 3.73 million, while the condominium and co-op sector faced a 2.7% dip. Regionally, the Midwest, South, and West saw year-over-year growth, whereas the Northeast remained stagnant.
Economic factors and affordability
NAR Chief Economist Lawrence Yun noted that while mortgage rates—which averaged 6.49% in June—continue to cause fluctuations in monthly activity, the broader economy remains supported by significant job gains. Importantly, wage growth is currently outpacing home price appreciation, which has kept affordability levels relatively stable compared to the previous year. However, Yun emphasized that long-term affordability depends on increasing housing supply to prevent further price acceleration.