Existing home sales declined for the fifth straight month in June, falling 5.4 percent from the previous month, according to data from the National Association of Realtors (NAR) released Wednesday. The figures indicate that record prices and higher interest rates are driving Americans out of the market. The median home price rose to $416,000 last month, up 13.4 percent from last year, while total sales fell by 14.2 percent year-over-year. "Falling housing affordability continues to take a toll on potential home buyers," NAR chief economist Lawrence Yun said in a statement. "Both mortgage rates and home prices have risen too sharply in a short span of time." Year-over-year prices
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