Jun 22, 2021 - Economy & Business

Median existing home price hits new high

Graph showing the median price for an existing home.
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.

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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