Median home prices hit all time high

(CNN)– The price of buying a home in America has reached a new record.

According to the National Association of Realtors, the median existing-home price climbed to an all-time high of $440,600 in June.

That’s up nearly 2% from a year ago.

At the same time existing home sales fell 2.4% in the same month due to high mortgage rates and record home prices.

The average 30-year mortgage rate is currently near its highest level this year at almost six-and-a-half percent.