U.S. Existing Home Sales (June 2026)

Existing home sales tumble in June

• Existing home sales fell 2.4% month-on-month (m/m) to 4.09 million units (annualized) in June – below the market consensus forecast calling for a flat reading of 4.20 million units.
• Sales in the single-family segment fell 2.4% to 3.73 million, while sales in the smaller condo/co-op segment fell 2.7% to 360,000. Only the Northeast region recorded higher sales in June (+2.1%), while the West (-1.3%), Midwest (-3.0%), and South (-3.6%) all saw declines.
• Unadjusted inventory levels stood at 1.56 million, down 0.6% from May but up 1.3% from June 2025. Unsold inventory stood at 4.6 months' supply, up slightly from 4.5 in May.
• The median home price was up 1.8% year-on-year – unchanged relative to the month prior. First-time buyers made up 33% of sales, down from 35% in May but up from 30% the year before.
  
   

Key Implications

• Existing home sales ended the first half of the year on a low note, as sales partially retraced the prior month's gain. Losses were broad-based across the regions, excluding the Northeast, which is recovering from a comparatively softer start to the year. On aggregate, the housing market remains in a subdued state, with the pace of sales anchored to a level roughly 25% below the pre-pandemic trend.
• Elevated financing costs combined with higher income-adjusted housing costs have combined to create a challenging affordability picture for buyers. With the national average 30-year fixed mortgage rate remaining near 6.5% and U.S. Treasury yields rising on renewed geopolitical tensions in the Middle East, we expect the housing market to remain in a subdued state through the second half of the year.
  
   

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