Home Prices Drop, Breaking 11-Year Streak of Increases
The longest streak of rising home prices on record was broken in February when the median price of a home in the United States dipped by 0.2 percent in annualized terms.
The National Association of Realtors (NAR) said Tuesday that the median existing home price was $363,000 in February, down 0.2 percent from $363,700 recorded in the same month last year.
“This ends a streak of 131 consecutive months of year-over-year increases, the longest on record,” the NAR said in a statement.
While the price dip is a good sign for buyers, affordability remains an issue for many would-be homebuyers. The median U.S. home price is still up around 45 percent from February 2019, according to FactSet data….