New home prices up more than 15% from a year ago

CNN– The price for a new home has climbed more than 15% from a year ago. According to the National Association of Realtors, the median price of a house last month was just over $350,000, and the NAR’s chief economist expects housing prices to keep going up.

Meanwhile, sales of existing homes surged 6.7% from December, but were down more than 2% from a year ago. That’s largely because there were so few homes to buy.