US Existing Home Sales Unexpectedly Fall

Existing home sales in the United States fell by 2.4% from the previous month to a seasonally adjusted, annualized rate of 4.09 million units in June of 2026, firmly below expectations that they would hold steady at 4.20 million. Sales fell in the South (-3.6% to 1.89 million), the Midwest (-3.0% to 0.98 million), and the West (-1.3% to 0.74 million), offsetting an increase in the Northeast (2.1% to 0.48 million). With the last sales results, inventory fell by 0.6% to 1.56 million units, equivalent to 4.6 months of supply. Meanwhile, the average price of existing home sales rose by 1.8% from the previous year to $440,600, the most in over one year.

Existing home sales in the United States rose by 3.2% from the previous month to an annualized rate of 4.17 million, extending the rebound from the seven-month low in March. The result surpassed market expectations of a softer rebound to 4.07 million despite the elevated levels of mortgage rates in the period, as high energy prices and a robust labor market drove long-maturity Treasury yields to rise. Sales were firmly higher in the South (3.2% to 1.96 million) and the Midwest (6.4% to 1.0 million), while the increase was lower in the Northeast (2.2% to 0.46 million) and sales were unchanged at the West (0.75 million). Inventory grew by 3.3% on the month, the highest in 10 months, equivalent to 4.5 months of supply at the latest sales rate.

Existing home sales in the United States inched higher by 0.2% from the seven-month low in the previous month to an annualized rate of 4.02 million units in April of 2026. The result was slightly below expectations 4.05 million units sold, pressured by higher mortgage rates after the surge in energy prices drove long-term Treasury yields to increase. Sales fell sharply in the West (-2.6% to 750 thousand), offsetting an increase in the Midwest (2.2% to 950 thousand). Inventory grew by 5.8% to 1.47 million, equivalent to 4.4 months of supply. Still, the NAR saw the result as optimistic. “Despite mixed macroeconomic signals—including a record-high stock market and historically low consumer confidence—home sales were modestly boosted by the continued improvement in housing affordability,” said NAR Chief Economist Dr. Lawrence Yun. “Mortgage rates are lower from a year ago, and average income growth is outpacing home price gains.”