Home prices hit record as demand falls, says Redfin

Home prices continued to rise in May, reaching a new high even as fears of tariffs, trade wars, and economic uncertainty swirl through the broader economy.

The median sale price for a home reached an all-time record of $396,500 during the four weeks ending June 15, according to Redfin. This was up 1% from the same time last year.

However, the increase belies a continued softening in the housing market nationwide. While sales prices reached record levels, they’re 6% lower than the median asking price of $422,238, the report found, indicating that sellers are having to accept lower bids. This is another signal that buyers are getting the upper-hand in markets across the country as rising supply and weaker demand slow price increases.

“Homes are selling for under asking price because there…