Consumer News: Homes prices hitting another record high, officials warning of scammers taking advantage of baby formula shortage

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CNN– Buying a home in the current market is not getting any easier, with home prices hitting another record high. The National Association of Realtors reports the median price of a home rose to over $391,000 last month. That’s up nearly 15% from a year ago. Meanwhile, home sales fell for he third straight month. Rising mortgage rates and limited affordable choices have pushed many would-be home buyers out of the market. Sales of existing homes dropped nearly 2.5% from March to April, and are down nearly 6% from a year ago.

ABC NEWS– A new warning is out about scammers using the nationwide baby formula shortage to prey on desperate parents. The Federal Trade Commission is urging consumers to beware of online thieves as scammers charge sky high prices for formula that never comes. So, how can you tell the difference between a scam and a credible source? ABC’s Erielle Reshef has the details.

Categories: National News