US Housing: Home Prices in the US Hit a Record High in May


Home prices in the United States hit a record high in May, according to data released by Black Knight on July 7. The report showed that the median home price rose to $414,000 in May, up from $398,000 in April. This was the highest median home price ever recorded.

The rise in home prices is being driven by a number of factors, including low interest rates, strong demand, and limited supply. Interest rates are at their lowest levels in decades, which makes it more affordable for buyers to borrow money. Demand for homes is also strong, as people are looking for more space to work and live from home. Supply of homes is limited, as builders have struggled to keep up with demand.

The rise in home prices is making it difficult for some people to afford to buy a home. However, it is also providing a windfall for homeowners, who are seeing the value of their homes increase.