Consumer News: U.S. home prices hit new record in May, surge in passengers overwhelming some airlines and more!
CNN– If you’re looking to buy a new house anytime soon, you better start saving up now. U.S. home prices just hit a new record last month. The National Association of Realtors says the average home price in May was more than $350,000. That’s a 24% price hike from May 2020, and it marks the 111th consecutive month of year-over-year price gains. Coincidentally, the rise in costs means that home sales are falling. The Midwest was the only region that saw a rise in sales in May.
Microsoft is joining Apple in an exclusive club. Microsoft’s market capitalization topped $2 trillion during Trading Tuesday. The tech giant is only the second publicly traded American company, behind Apple, to reach such a valuation. The company first passed the $1 trillion mark just over two years ago, but it got a big boost from the pandemic.
It’s been a big week for air travel, as a pandemic-era record number of passengers were screened at airports across the country this past weekend. As more Americans travel, some airlines are struggling to keep up with a surge in demand. Mandy Gaither has the latest.