Record Home Prices, High Mortgage Rates Push Pending Sales Down for Fourth Straight Week
In the recent four-week period ending on June 7, the median home-sale price in the United States reached a record high of $400,894, reflecting a 1.5% increase from the previous year. This information was published in a report by Redfin, a real estate brokerage that operates with Rocket technology. It is highlighted as the first time that the average price for an existing home in America has exceeded $400,000, as per an analysis of Multiple Listing Service (MLS) data conducted by Redfin. Additionally, monthly payments have also peaked, with the typical payment amounting to $2,619 - a mere $8 below the 11-month high noted in late May.
