June existing home sales unchanged year-over-year

Breakdown

• Existing home sales in June fell 2.7% from the previous month but were flat year-over-year.
• The median home price hit a record $435,300, up 2% from last year. 37s
• Inventory increased 15.9% from last year, but the market remains below balanced supply. 20s
• First-time buyers made up 30% of sales, below the historical average of 40%. 55s
• Sales are now strongest at the higher end of the market, and a proposed capital gains tax cut would mostly affect high-end homeowners. 1m 5s