Median Home Price Hits Record $440,600 as Supply Drought Persists

U.S. median home prices reached $440,600 in July, the 36th consecutive month of increases, according to National Association of Realtors data. The July median represents a 1.8 percent annual gain.

The persistent supply shortage continues to drive prices higher. Demand consistently outpaces available inventory across most major markets, creating sustained upward pressure on both purchase and rental costs.

High mortgage rates compound the affordability crisis. Combined with elevated prices, financing costs now exceed the capacity of many first-time buyers to qualify for loans or afford monthly payments.

Even traditionally affordable regions like the Midwest are losing their price advantage. The tightening has become nationwide, leaving few markets accessible to entry-level purchasers.

U.S. median home prices reached $440,600 in July, the 36th consecutive month of increases, according to National Association of Realtors data. The July median represents a 1.8 percent annual gain.

Even traditionally affordable regions like the Midwest are losing their price advantage. The tightening has become nationwide, leaving few markets accessible to entry-level purchasers.