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Benzinga
  • 7/24/2024
Existing homes in June declined due to high prices and mortgage rates, marking the slowest pace since 2010.
Transcript
00:00It's Benzinga and here's what's on the block.
00:03Existing home sales in June declined due to high prices and mortgage rates marking the
00:07slowest pace since 2010.
00:09The median existing home price surged over 4% year-over-year to a record high of nearly
00:13$420,000.
00:16High prices and persistently high mortgage rates are deterring many potential home buyers.
00:21Inventory levels are rising but still low overall, exacerbating high prices due to an
00:25ongoing high demand and low supply.
00:28Homes are staying on the market longer as buyers wait for interest rate cuts or demand
00:32fewer contingencies like inspections.
00:34For all things money, visit Benzinga.com.

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