U.S. home prices surged to an all-time high in June according to a National Association of Realtors (NAR) report released last Thursday.
The report found that the median existing home price in June reached $440,660, an increase of 1.8 percent year-over-year and a new high according to the NAR’s chief economist Lawrence Yun.
Housing sales declined to 2.4 percent month-over-month in June and 2.8 percent, seasonally adjusted, since June 2025. The NAR’s Housing Affordability Index is up 6.8 points since June 2025 at 102.3, signaling that home prices are more affordable relative to the median family income. Yet the index was down 2.8 points from May.
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Home affordability has become a contentious issue as “affordability politics” dominates discussions leading up to the midterms. A Harris poll conducted with the Guardian earlier this month saw 45 percent of respondents share that they found trouble affording housing.
Congress recently passed the “21st Century Road to Housing Act,” which aims to loosen regulatory burdens on building and increase the supply of housing. President Donald Trump declined to sign the bill, letting it become law on Saturday following the 10-day window after being passed by Congress but not vetoed.
