Rick Sharga

3 weeks ago | bankrate.com | Rick Sharga |Michele Petry

There’s no escaping the fact that homes in the U.S. have been getting less and less affordable. According to the National Association of Realtors (NAR), the median price of an existing home sold in April was $414,000. That’s up almost 3 percent from the March price, and almost 2 percent from April 2024. Meanwhile, the U.S. Census Bureau reported that the median price of a new home sold during the month was $407,200, almost a full percentage point more than in March.

1 month ago | bankrate.com | Rick Sharga |Michele Petry

Sellers have had the advantage in the housing market for several years, largely due to low levels of available homes. However, many experts see market conditions starting to shift in buyers’ favor. Whether conditions favor buyers or sellers may depend on individual local market dynamics. Homebuyers, it seems, haven’t been able to catch a break.