According to NAR Chief Economist Lawrence Yun, “Multiple years of undersupply are driving the record high home price. Home construction continues to lag population growth. This is holding back first-time home buyers from entering the market. More supply is needed to increase the share of first-time homebuyers in the coming years even though some markets appear to have a temporary oversupply at the moment.”

Total Existing-Home Sales for June

• 2.7% decrease in total existing-home sales month-over-month to a seasonally adjusted annual rate of 3.93 million.
• No change in sales year-over-year.

Inventory in June

• 1.53 million units: Total housing inventory, down 0.6% from May and increased 15.9% from June 2024 (1.32 million).
• 4.7-month supply of unsold inventory, up from 4.6 months in May and 4 months in June 2024.

Median Sales Price in June

• $435,300: Median existing-home price for all housing types, up 2% from one year ago ($426,900) — a record high for the month of June, and the 24th consecutive month of year-over-year price increases.

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Source: National Association of REALTORS® 7/23/25