U.S. Home Prices Hit Record High as Sales Decline for Fourth Month

The national median home price reached $426,900 in June, while rising mortgage rates and affordability issues continued to deter buyers.

Existing home sales fell 5.4% in June, marking the lowest level since December.
The housing market is showing signs of shifting from a seller's market to a buyer's market.
Inventory of homes for sale increased by 23% from the previous year.
High mortgage rates and record prices remain significant barriers for potential buyers.
Experts predict a potential rebound as mortgage rates are expected to decline later this year.