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.
Get market news worthy of your time with Axios Markets. Subscribe for free.
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.
More from Axios: Sign up to get the latest market trends with Axios Markets. Subscribe for free