Home Sales Stagnation: A Harbinger of Housing Market Shifts? The US existing home sales unexpectedly fell in June, with the seasonally adjusted annual rate dipping 2. 4% from May to 4. 09 million units.
This decline comes despite a 2. 8% year over year increase in sales. The numbers are a stark reminder that the housing market is not immune to shifting economic tides.
High mortgage rates have been a persistent problem, with the average rate on the popular 30 year fixed rate mortgage remaining about 45 basis points above its pre conflict level.