U.S. Home Prices See Biggest Drop Since 2011

(Minneapolis, MN) — Existing home prices are seeing the biggest year-over-year drop in over a decade. The National Association of Realtors reported Thursday that the median price last month was just over 396-thousand dollars. That’s a drop of a little more than three-percent compared to a year ago — the biggest decline seen since December 2011. Sales of existing homes rose slightly from April to May. However, sales were down a little more than 20-percent from a year ago.

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