US home prices hit an all-time high as sales slow and mortgage rates rise

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ALEX VEIGA

Thu, July 9, 2026 astatine 9:01 AM CDT 1 min read

Sales of antecedently occupied U.S. homes slowed successful June, but a cardinal measurement of location prices climbed to an all-time high, adding to prospective homebuyers' affordability challenges.

Existing location income fell 2.4% past period from May to a seasonally adjusted yearly complaint of 4.09 cardinal units, the National Association of Realtors said Thursday. Sales roseate 2.8% compared with June past year.

The latest income tally fell abbreviated of the astir 4.21 cardinal gait economists were expecting, according to FactSet.

Home income person been mostly hovering adjacent to a 4-million yearly gait going backmost to 2023, acold abbreviated of the historical norm that is person to 5.2-million.

Sales person remained sluggish this twelvemonth arsenic mortgage rates person mostly trended higher successful the months since the outpouring arsenic the warfare betwixt the U.S. and Iran began raising expectations of higher inflation. Still, owe rates stay beneath wherever they were a twelvemonth ago.

Home prices continued to emergence nationally past month. The U.S. median income terms accrued 1.8% successful June from a twelvemonth earlier to $440,600, an all-time high, NAR said. Home prices person risen connected an yearly ground for 36 months successful a row.

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