Median US Home Prices Hit Record High of $394,000, Redfin Says

Home prices in the United States hit a new high this month, with a decline in mortgage rates triggering a slight fall in monthly payments, according to real estate brokerage firm Redfin. “The median U.S. home-sale price hit an all-time high of $394,000 during the four weeks ended June 9, up 4.4 percent year over year—the biggest increase in about three months,” said Redfin in a press release on June 13. The brokerage noted signs that home price growth could soon ease, such as data showing that 6.5 percent of sellers cut their average asking prices, the highest share since November 2022. In metropolitan areas such as Austin, Fort Worth, San Antonio, and Portland, prices are already declining, Redfin said....