Bidenflation: Median Existing Home Price Rises Above $400,000 For First Time

Bidenflation: Median Existing Home Price Rises Above $400,000 For First Time


The median price for an existing home sold in May rose to a record high of $407,600 in May, the National Association of Realtors said Tuesday.

This is the first time the median home price has exceeded $400,000. Compared with a year ago, the median selling price is up 14.8 percent.

The median existing single-family home price was $414,200 in May, up 14.6 percent from May 2021.

Prices have continued to climb as the nation is gripped by inflation and a shortage of homes for sale. Rising mortgage rates, which have climbed sharply this year as the Fed hikes interest rates to fight inflation, have dealt a severe blow to housing affordability.

Trending: “You’re a F*cking Scumbag!” – Staten Island Supermarket Worker Physically Assaults Rudy Giuliani (VIDEO)

First-time buyers were responsible for 27 percent of sales in May,

Continue reading


 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

Thanks for sharing!
Send this to a friend