Median home sale price hits record high in June

Data Journalist

WASHINGTON —

The median home price has reached a record high, according to June data just released by the National Association of Realtors.

The new housing data comes as a bipartisan housing bill is set to take effect Saturday. The bill, which President Donald Trump said he won’t sign, will still go into effect.

Goals of the 21st Century ROAD to Housing Act include creating more affordable housing and increasing home construction.

The Get the Facts Data Team broke down key statistics to contextualize the housing bill.

Home sale prices

The median price of existing homes reached an all-time high in June, according to the National Association of Realtors. The $440,600 price was a 1.8% increase from the year prior.

Housing supply over time

There were 1.56 million units in the total housing inventory in June, according to data from NAR.

Housing inventory has gone up in recent years, but still hasn’t bounced back to pre-pandemic levels.

Housing affordability

The housing affordability index has been at its lowest since before the Great Recession, starting in 2007.

NAR calculates the affordability index, which measures a family’s ability to qualify for a mortgage on a typical home.

In June, the index was 102.3. It decreased from the prior month but was up from the same time the year prior.

Mortgage rates

The average rate for a 30-year fixed mortgage was 6.5% as of this month. While down from spiking in 2023 at 7.8%, the rates have yet to return to levels seen just before the pandemic, below 5%.