LOS ANGELES — Sales of previously occupied U.S. homes slid in June to the slowest pace since last September as mortgage rates remained elevated and the national median sales price rose to an all-time high of $435,300.

Existing home sales fell 2.7% last month from May to a seasonally adjusted annual rate of 3.93 million units, the National Association of Realtors said Wednesday.

Sales were flat compared with June last year. The latest home sales fell short of the 4.01 million pace economists were expecting, according to FactSet.

Home prices increased on an annual basis for the 24th consecutive month to reach record heights.

The U.S. housing market has been in a slump since early 2022, when mortgage rates began to climb from pandemic-era lows. Home sales fell last year to their lowest

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