US Home Sales Drop as Median Prices Surpass $400,000 for First Time

US Home Sales Drop as Median Prices Surpass $400,000 for First Time
A 'for sale' sign hangs in front of a home in Miami Fla., on June 21, 2022. Joe Raedle/Getty Images
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U.S. home sales fell for the fourth consecutive month in May, as high demand continues to drive up real estate prices to unprecedented highs, according to new data from the National Association of Realtors.

The Association released its monthly report on Tuesday, reflecting the unusual dynamics of the real estate market this summer.