Median price for existing homes hits new high

·1 min read

Data: National Association of Realtors; Chart: Sara Wise/Axios

The median price for a previously owned home hit a new high last month, per a new report from the National Association of Realtors.

Why it matters: Home prices are shooting higher all across America because there are too few homes for the feverish demand.

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Sales of existing homes declined for the fourth straight month, according to NAR.

  • "[F]alling affordability is simply squeezing some first-time buyers out of the market," the association's chief economist Lawrence Yun said in a release.

💰See Axios dispatches from housing markets across the country: the Twin Cities, Tampa Bay, Des Moines, Northwest Arkansas and Denver.

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