U.S. Home Sales Fell In June As Prices Reach New Heights

The video discusses the decline in existing home sales for the fifth consecutive month, with a 5.4% drop in June and a 14.2% decrease from the previous year. The median home price rose by 13.4% to $416,000, highlighting the impact of rising interest rates. The report also notes a decrease in housing starts by 2% in June. The shortage of available homes and rising interest rates have reduced demand, leading to longer market times for homes. The Federal Reserve's potential interest rate hikes could further affect prices and sales in the coming months.

What was the percentage decline in existing home sales in June compared to the previous year?

How much did the median existing home sale price increase from one year ago?

What was the median existing home sales price last month before the reported decline?

What factors have contributed to the decline in home sales according to the report?

What is the expected trend for home prices and sales in the coming months?