Rising home prices fail to impress would-be sellers

In June the median sales price of homes sold in the Washington area hit $400,000 for the first time in four years, with data showing a 5.3 percent increase over a year ago. But inventory numbers indicate potential sellers aren’t buying into the improved market and appear content to stay put.

June marked the fifth consecutive month with higher pricing gains over last year, according to data from RealEstate Business Intelligence. Sales were 5.7 percent higher than last June, but were down by 9 percent when compared with May numbers.