US Home Prices Hit All-Time High Even as Existing Sales Fall
HuffPost — US News—US home prices reached a record high in June, even as existing home sales unexpectedly declined amid rising mortgage rates, deepening affordability pressures for buyers. The combination of higher prices and falling transaction volume signals a housing market frozen in place: sellers refuse to cut prices while buyers can no longer afford to buy. Rising mortgage rates are the central culprit, having remained elevated longer than most economists predicted. The data complicates the outlook for the Federal Reserve as it weighs how long to hold interest rates at restrictive levels.
- HuffPost — US News — Rising mortgage rates and record prices are squeezing the housing market from both ends
- New York Post — Business — Existing home sales fell unexpectedly in June even as prices hit a new record high
- PBS NewsHour — Home prices hit record levels as sales slow and mortgage rates remain elevated
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- Los Angeles Review of Books — Isengard in Oxford
- ABC News — Money — US home prices hit an all-time high as sales slow and mortgage rates rise
- CBS News — US home prices across the country reach a new all-time high
- Straight Arrow News — Prices hit record high even as the volume of home sales falls
- Semafor — The rise and fall of the Oxford don
- HuffPost — U.S. Home Prices Hit An All
- Reuters — Existing home sales fall unexpectedly in June as house prices set a new record