Existing home sales retreat to nine-month low

In June, home prices climbed and hit another record high while existing home sales dropped in its 9 month low. With ongoing uncertainty for buyers and their concerns about mortgage rates, tariffs and overall economic stability the market expects sales to be at a softer pace in the coming months. With total existing home sales falling 2.7% while the median existing home price continues to climb, sales will likely remain at low levels throughout the year.