U.S. HOME PRICES HIT RECORD HIGH, UP 24% IN LAST YEAR

Key Points:

  • Existing home sales continue to trend down as the housing supply falls short of demand, increasing costs.
  • Existing home sales fell 0.9% for the fourth consecutive month in May to 5.8 million.
  • The median existing home sales price rose 23.6% in the last year, the highest increase on record.
  • The median home price rose above $350,000 in May for the first time.
  • The average home spent only 17 days on the market.
  • The Right Facts will continue to monitor home sales.
Source