Median price of homes in U.S. hit an all-time high as sales in Houston area slow down

HOUSTON, Texas (KTRK) -- The median price of a home in the U.S. hit an all-time high of $440,600 in June, according to the National Association of Realtors.

In the Houston area, the median home price is approximately $345,000, according to the Houston Association of Realtors.

Prices continue to heat up as sales are beginning to cool down. Sales of previously occupied U.S. homes slowed in June.

Existing home sales fell 2.4% in June from May to a seasonally adjusted annual rate of 4.09 million units, according to the National Association of Realtors. Sales rose 2.8% compared with June last year.

The latest data came out as President Donald Trump said in a social media post on Friday that he "will not sign" the bipartisan housing reform package known as the "21st Century Road to Housing Act."

Trump said he won't sign the housing bill over the U.S. Senate's inability to pass the Save America Act.

The 21st Century Road to Housing Act aims to address the country's housing shortage by increasing the supply of homes and overall homeownership by loosening regulations to encourage housing construction while limiting Wall Street investors from buying homes.

The housing reform bill is expected to become law at midnight if Trump does not veto it.