National Association of Realtors: home prices rise nationwide

According to a new report by the National Association of Realtors home prices across the U.S. rose this summer even though the housing market was cooling.

CNN—According to a new report by the National Association of Realtors home prices across the U.S. rose this summer even though the housing market was cooling.

The Association tracked home prices in 185 cities over the summer and found prices increased in all but four cities.

Nearly half the cities saw double-digit increases from 2020.

The price jumps have since slowed substantially due to the rise in mortgage rates.

Experts say because of both rising prices and rates the median income now needed to buy a typical home is $88,000 and $300,000.

That’s almost $40,000 more than it was prior to the start of the pandemic.

 

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