By Megan Henney | Fox Business
The cost of buying a new house just hit another all-time high, according to a new report.
Data published by the National Association of Realtors shows the median existing U.S. home sale price jumped to $426,900 in June – a 4.1% increase from the same time last year. That marks the highest level on record and is the second straight month that prices topped a new high.
As prices marched higher, sales of previously owned homes tumbled 5.4% to an annual rate of 3.89 million units.
In a potentially good sign for buyers, however, there was an uptick in inventory last month. At the end of June, there were about 1.32 million homes for sale, according to the report, up 3.1% from the previous month and 23.4% from the same time one year ago.