U.S. Existing-Home Sale Prices Hit Record of $407,600 in May

The relentless climb in U.S. home values continued in May, when median prices shot above $400,000 for the first time while sales activity slowed under pressure from higher mortgage costs.

Rapidly rising interest rates are rippling through U.S. markets as the Federal Reserve tries to combat inflation. Stocks entered a bear market this month, consumer sentiment has taken a hit, and economists are forecasting an increasing likelihood of recession as higher rates threaten to choke off growth.

Source link : www.wsj.com

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