US home sales fell in June to slowest pace since December amid rising mortgage rates, home prices

Sales of previously occupied U.S. homes fell in June for the fourth straight month as elevated mortgage rates and record-high prices kept many would-be homebuyers on the sidelines. Sales of previously occupied U.S. homes fell 5.4% last month from May to a seasonally adjusted annual rate of 3.89 million, the fourth consecutive month of declines, the National Association of Realtors said Tuesday. Existing home sales were also down 5.4% compared with June last year. Yet home prices climbed for the 12th month in a row. The national median sales price rose 4.1% from a year earlier to $426,900, an all-time high, and up 51% from five years ago.