U.S. home prices rise to an all-time high while sales of previously occupied homes slow, according to multiple reports. The slowdown is tied to higher mortgage rates, which makes borrowing more expensive for prospective buyers. In June, sales of existing homes decelerate compared with earlier periods, reflecting reduced affordability and demand.
At the same time, a key home-price measure climbs to a record level, signaling that prices keep increasing even as transactions cool. Sources also note that the broader housing market has been under pressure since 2022, when mortgage rates moved up from pandemic-era lows. As rates have remained elevated, buyers have faced higher monthly payments, which has contributed to a housing market slump.
Overall, the coverage highlights a split between prices and sales: costs for homes continue to set new highs, while the pace of existing-home transactions lags. The combination of rising prices and slower sales is intensifying affordability challenges for households considering purchase.
