U.S. Home Prices Hit All-Time High

While the median home-sale price is sitting at a record high, it’s notably lower than the median asking price. That’s because sellers are open to negotiating in today’s cooling housing market, in which sellers outnumber buyers.

The median U.S. home-sale price hit a record $396,500 during the four weeks ending June 15, up 1% year over year. Prices are at an all-time high even though this spring’s housing market is fairly cool because prices don’t yet fully reflect the historic imbalance of sellers and buyers in today’s market. Note that sale prices are seasonal and typically peak in June or July, and that price growth is cooling: The 1% year-over-year increase is in line with the last several weeks, but down from about 5% at the start of the year. 

While the median Read More