US home sales fell in June to slowest pace since December amid rising mortgage rates, home prices
AP Business Writer
LOS ANGELES (AP) — Sales of previously occupied U.S. homes fell in June for the fourth straight month as elevated mortgage rates and record-high prices kept many would-be homebuyers on the sidelines. Sales of previously occupied U.S. homes fell 5.4% last month from May to a seasonally adjusted annual rate of 3.89 million, the fourth consecutive month of declines, the National Association of Realtors said Tuesday. Existing home sales were also down 5.4% compared with June last year. Yet home prices climbed for the 12th month in a row. The national median sales price rose 4.1% from a year earlier to $426,900, an all-time high.
