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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.

Go deeper

Bryan Walsh, author of Future
Sep 22, 2021 - Economy & Business

Building the future depends on building more housing

Illustration: Annelise Capossela/Axios

America's troubled urban housing policies are having negative effects that go far beyond high rents and real estate prices.

Why it matters: Decades-old barriers to building more housing in America's most productive cities make it harder to move and live there, which eats into wages, depresses population, saps economic growth, and even worsens climate change.

"Atmospheric river" swings Northern California from drought to flood

Satellite view of the bomb cyclone swirling off the coast of the Pacific Northwest and the atmospheric river affecting California on Oct. 24. Photo: CIRA/RAMMB

A series of powerful "atmospheric river" storms are delivering historic amounts of rainfall across parts of drought-stricken California and the Pacific Northwest — triggering widespread power outages and flooding.

Why it matters: The strong atmospheric river, packing large amounts of moisture, is causing Northern California to whiplash from drought to flood.

2 hours ago - World

Sudan's military places civilian prime minister under house arrest

Sudanese Prime Minister Abdallah Hamdok during a 2020 news conference in Khartoum, Sudan. Photo: Mahmoud Hjaj/Anadolu Agency via Getty Images

Sudan's civilian Prime Minister Abdalla Hamdok was put under house arrest and several other ministers were also detained Monday in what appears to be a military coup in the country, per local reports.

Why it matters: The arrests of the civilian faction in the Sudanese government came a day after U.S. envoy Jeffrey Feltman met with the head of the military faction of the Sudanese government General Abdul Fattah al-Burhan and warned him against staging a coup.

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