U.S. Home Prices Sink Under Weight of Higher Interest Rates

The median existing-home price for all housing types declined 3.1% in May from the same month in the prior year – the biggest drop in more than a decade.

The national median existing-home price was $396,100 in May, down 3.1% from $408,600 in May 2022, the National Association of Realtors said.

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