June home sales fall 5.4% from May, as prices set yet another record

Sales of previously owned homes in June fell 5.4% from May, according to a monthly report from the National Association of Realtors, as prices set records and rates surged.

The sales count declined to a seasonally adjusted annualized rate of 5.12 million units last month, the group said. Sales were 14.2% lower compared with June 2021.

This is the slowest sales pace since the same month in 2020, when sales dropped very briefly at the start of