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Redfin Corp: U.S. median home-sale price surpasses 400,000 dollars for first time
The median U.S. home-sale price climbed to a record 400,894 dollars during the four weeks ending June 7, according to Redfin Corp. This milestone represents the first time the typical American existing home has sold for more than 400,000 dollars, based on Redfin Corp analysis of MLS data.
The median price increased 1.5 percent year over year, highlighting persistent upward momentum in the U.S. housing market despite affordability concerns. Redfin Corp's findings shed light on the competitive pressures buyers continue to face as limited inventory and steady demand keep prices elevated.
Redfin Corp previously reported that closed home sales reached a post-2022 high as inventory increased, while pending deals stayed flat due to higher mortgage rates, according to company data. The company also saw over 1,200 of its agents named among the top U.S. real estate professionals during a challenging period for the market, as detailed in an earlier report. These developments come as price growth continues to outpace affordability improvements.
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