Sales houses increased slightly in June as the stock of houses available for purchase increased, but house prices remain remained on a tear, according to a report by the National Association of Realtors. Consistently low stocks have driven prices up over the past year. The median price of an existing home in June hit an all-time high of $ 363,300, up 23% from a year ago. This represents 112 consecutive months of year-over-year gains.'other.Learn more about financial empowerment How many houses can I afford? How does inflation affect my standard of living? How much should I save for retirement? Sales of existing homes - which include single-family homes, townhouses, condominiums and co-ops - rose 1.4% from May to June, breaking four consecutive months of decline. Home sales are up 23% from a year ago - although this comparison is skewed as parts of the United States were still closed in June of last year due to the pandemic. ul data-layout = list-hierarchical-xs > Supply has improved slightly in recent months due to more housing starts and existing homeowners listing their homes, which has resulted in increased sales, said Lawrence Yun, Chief Economist of NAR. Door-to-door sales continue to grow at a rate above the rate seen before the pandemic. At the end of June, 1.25 million homes were for sale, up 3.3% from May and down 18.8% from a year ago. At the current rate of sales, this is equivalent to to a 2.6 month supply. A balanced market between buyers and sellers typically requires a 6 month supply. Read more At a general level, house prices are unlikely to decline due to tight inventory conditions , but I expect prices to appreciate at a slower rate by the end of the year, Yun said. Ideally, the costs of a home would increase roughly with income growth, which is likely to occur in 2022 as more listings and new construction become available. How many homes can I afford? Still, the market continues to move at a steady pace, with almost 90% of homes sold in a month. usually on the market for 17 days in June, which isremained unchanged from May and down from 24 days a year ago. Three of the four major regions of the United States recorded sales gains last month, while in the fourth - the South - - sales remained stable. Despite this, all four zones recorded double-digit price increases compared to last year. As the median price of a home continues to rise, part of that price increase is due to more homes bigger and more expensive sell. Sales of homes priced between $ 100,000 and $ 250,000 are down 16% from a year ago, but sales of homes priced between $ 750,000 and $ 1 million increased 119%, and sales of over $ 1 million increased 147%. Huge gains in wealth from both home equity and the marketThe stock market has boosted cash transactions, but first-time home buyers who need mortgage financing are especially faced with record home prices and low inventories, ”Yun said. Although rates are favorably low, these hurdles have been overwhelming for some potential buyers.