Forbes Daily: Record-High Home Prices Raise Stakes For First-Time Buyers -Forbes


The tough housing market continues, as U.S. home prices hit an all-time high in May, with the median price jumping 5.8% from the year prior, while sales saw a 2.8% decline. With mortgage rates also stuck at comparatively high levels—current mortgage payments are “more than double that of homes purchased before 2020” according to Lawrence Yun of the National Association of REALTORS®—it’s a tricky market for first-time buyers to break into.

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