The U.S. median home sales price hit a “record high” of $400,125 for the four weeks ending June 29, up 1.4 percent from last year, real estate brokerage Redfin said in a July 3 statement.
Among the 50 most populous U.S. metros, Detroit saw the largest year-over-year jump in median sales price at 10.1 percent, with Newark, New Jersey, a close second at 9.4 percent. This was followed by Cleveland; Nassau County, New York; and New York City.
Amid surging home prices, pending sales—home purchase contracts signed, but not yet closed—dropped by 3.2 percent year over year, which was the largest decline in almost four months….