Some people wanted to buy houses in the United States, but they found it difficult because the prices were very high. So, fewer houses were sold in June 2024 than in May 2024. The price of houses also went up, making it even harder for people to buy them. This happened all over the country, but it was especially noticeable in the Midwest and the South. Some people think that the market for houses is changing from a seller's market (where sellers have more power) to a buyer's market (where buyers have more power).

Some people who want to buy houses don't have enough money to pay for them, so they need to get a loan from a bank. The interest rate on these loans has gone down a little bit, which might make it easier for some people to buy houses. But it is still high compared to previous years.

Some companies that help people buy and sell houses are doing well, while others are not doing as well. This shows that different companies have different ways of dealing with the changes in the housing market. Read from source...

- The headline is misleading, as it does not specify the decline is in annual rates of sales, not in absolute numbers.
- The article uses the word "plunged" to describe a 5.4% monthly decline, which is an exaggeration and sensationalizes the data.
- The article does not provide any context or comparison to historical data or previous years, making it difficult for readers to understand the significance of the decline.
- The article focuses on the record high prices as the main reason for the decline in sales, but does not explore other factors, such as rising interest rates, inflation, or affordability issues.
- The article does not mention any regional or local variations in the market, which could provide more insight into the causes and effects of the decline.
- The article includes a chart that is not consistent with the data presented in the article, as it shows a 6.7% decline in sales in June 2024, while the article states the decline was 5.4%.

Neutral
Article's Key Points:
- Existing home sales in the US plunged 5.4% in June from the previous month, marking the steepest monthly decline in 1.5 years.
- The median sales price reached a record high for the second consecutive month, keeping buyers on the sidelines.
- All four US regions saw both sales declines and price gains.
- Properties typically remained on the market for 22 days in June, up from 18 days in June 2023.
- First-time buyers accounted for 29% of sales in June, down from 31% in May but up from 27% in June 2023.
- Cash sales made up 28% of transactions in June, unchanged from May and up from 26% a year ago.
- Real estate stocks saw mixed reactions, with some leading the sector and others lagging.

- Recommendation: Moderately overweight real estate sector, especially companies with exposure to the U.S. housing market and strong balance sheets
- Risk: High demand for housing, rising mortgage rates, and inflation could lead to a slowdown in the housing market and negative impact on real estate stocks