The median existing-home sales price has now topped $350,000

National News

WASHINGTON D.C. (CBS) – Home prices in America are now experiencing the biggest annual increase in more than two decades due to a shortage of properties and low borrowing rates.

Officials say the median existing-home sales price has now topped $350,000 for the first time ever.

That figure is nearly 24% higher than a year ago and is the biggest year-over-year price increase that has been recorded going back to 1999.

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