Redfin/Rocket report: US median home-sale price hits record high at $408,776 in June

Existing-home sales edged up 0.1% month over month to a 4.4 million annual rate, up 4.2% from a year earlier.

Pending sales increased 0.5% on the month, up 4.5% year over year, as demand held up despite elevated borrowing costs.

Rocket-backed Redfin reported the median U.S. home-sale price rose 2.2% year over year to a June record of $408,776.

The average 30-year fixed mortgage rate averaged 6.49% in June, keeping many first-time buyers sidelined while higher-income buyers stayed active.

San Francisco led major metros on price gains at 9.2% year over year; West Palm Beach rose 8.6%, with luxury demand a key driver.