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Existing-Home Sales Fall 2.4% to $4.09M as Median Price Hits Record $440.6K and Inventory Tightens

Existing-home sales in the US fall 2.4% in June to $4.09M, missing economists' forecasts of $4.21M and remaining below long-run norms.The median existing-home price rises to a record $440.6K, marking a 36-month streak of annual gains while inventory stands at $1.56M, equal to a 4.6-month supply.First-time buyers account for 33% of transactions, cash purchases decline to 25%, and sales in the high-end segment climb sharply, widening affordability gaps.Lawrence Yun of the National Association of Realtors says supply must rise roughly 30–40% to restore balance, with mortgage rates and regional price divergences complicating prospects.
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