Existing Home Prices Hit Record $402,000—But Sales Fall As Housing Market ‘Painfully’ Adjusts To Rising Rates

Existing Home Prices Hit Record $402,000—But Sales Fall As Housing Market ‘Painfully’ Adjusts To Rising Rates

Home sales have “essentially returned” to pre-pandemic levels seen in 2019 “after two years of gangbuster performance,” but prices keep skyrocketing amid still-low inventory and lingering supply chain constraints.