Sales of previously owned homes dropped in June, marking a slow start to summer for the housing market as prices hit an all-time high.

An abundance of home listings are available, while sellers remain patient, hoping their property will stand out in the crowded market.

Sales of previously occupied U.S. homes slid in June to the slowest pace since last September as mortgage rates remained elevated and the national median sales price rose to an all-time high of $435,300.