U.S. home prices are the most expensive they have ever been

ORLANDO, Fla. — Home prices in the U.S. are the most expensive they have ever been.

▶ WATCH CHANNEL 9 EYEWITNESS NEWS

The National Association of Realtors says the median price of a previously owned home increased to nearly $427,000 last month.

June was also the 12th month in a row in which prices increased on an annual basis.

Read: Foreign investment in U.S. homes declines as buyers face tight inventory, high prices

Meanwhile, existing home sales fell more than 5% last month.

Experts say that is a sign of weakening demand.

Watch: ‘I just need help’: Orange County residents report issues submitting applications to affordable housing waitlist

Click here to download our free news, weather and smart TV apps. And click here to stream Channel 9 Eyewitness News live.

©2024 Cox Media Group