Your home is likely your biggest asset, and its value impacts everything from your net worth to your monthly budget. But what's really driving the current surge in home prices, and how does it affect you beyond just your property value?
Home prices are trending upwards, with the median existing home price hitting a record high in May 2024.
The National Association of Realtors reported the median existing home price reached $419,300 in May 2024, a 5.8% increase from the previous year.