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U.S. home prices are the most expensive they have ever been

ORLANDO, Fla. — Home prices in the U.S. are the most expensive they have ever been.

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The National Association of Realtors says the median price of a previously owned home increased to nearly $427,000 last month.

June was also the 12th month in a row in which prices increased on an annual basis.

Read: Foreign investment in U.S. homes declines as buyers face tight inventory, high prices

Meanwhile, existing home sales fell more than 5% last month.

Experts say that is a sign of weakening demand.

Watch: ‘I just need help’: Orange County residents report issues submitting applications to affordable housing waitlist

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