Median existing home price rose 23.4% in June

Limited inventory is still having a big effect. In the subdivision I live the houses don’t stay on the market more than a week or two before they’re sold. It’s a little crazy.

Existing-home sales rose 1.4% in June from the prior month to a seasonally adjusted annual rate of 5.86 million, the National Association of Realtors said Thursday. June sales rose 22.9% from a year earlier.

The median existing-home price rose to $363,300, in June, up 23.4% from a year earlier, setting a record high, NAR said, extending steady price increases amid limited inventory.

Wall Street Journal

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