Defining a buyer’s market ‘is always a bit tricky,’ real estate expert says

Even as home prices hit new highs, experts say there are signs that the housing market is becoming better for buyers in some locations.

The median cost of an existing, single-family home in the U.S. was $426,900 in June, a new all-time high, according to the National Association of Realtors. About 3.89 million homes were sold in June, a 5.4% decrease from May, NAR found.

While mortgage rates have declined from their May peak, borrowing costs remain expensive for buyers. The average 30-year fixed rate mortgage in the U.S. nudged up to 6.78% from 6.77% on Thursday, according to Freddie Mac data via the Federal Reserve.

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Source: CNBC

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