According to the National Association of Realtors existing-home sales report, completed transactions rose 3.2 percent month over month — from 5.32 million in May to a seasonally adjusted annual rate of 5.49 million last month. June had the highest pace of home sales since February 2007.
The median price for all housing types — single-family homes, townhomes condos and co-ops — was $236,400 in June. That’s 6.5 percent higher than the June 2014 price and is the all-time high. The previous peak was $230,400 in July 2006
“Limited inventory amidst strong demand continues to push home prices higher, leading to declining affordability for prospective buyers,” Lawrence Yun, NAR’s chief economist and senior vice president of research, said in a statement.
First-time homebuyers made up 30 percent of the market share in June, down from 32 percent in May.
Markets with the highest share of FHA borrowers from January to June 2015 were:
- Riverside-San Bernardino-Ontario, California: 35 percent.
- Las Vegas: 32 percent.
- Oklahoma City: 31 percent.
•Salt Lake City: 30 percent