The latest on buying that home....

According to a Reuter's article: "In June, sales of previously owned homes fell 5.4% to a seasonally adjusted annual rate of 5.12 million units, the lowest level since June 2020 when sales were rebounding from the COVID-19 lockdown slump, the National Association of Realtors said on Wednesday. Sales have now fallen each month since January. ..... That was not enough to stall the relentless increase in selling prices, however. The median existing house price climbed 13.4% from a year earlier to an all-time high of $416,000 in June. It was the 23rd straight month of double-digit annual price gains, the longest such run since the late 1970s." The biggest drop in sales were in the $100,000 - $250,000 range, but due to rising interest rates these homes are increasingly unaffordable by first-time buyers.