The median sales price of homes in the United States hit a record high of $408,838 for the four weeks ending June 28, real estate brokerage Redfin said in a July 2 statement.
The sales price was up 2.5 percent from a year ago, the company said. Among the 50 most populous metros, San Francisco, California, registered the largest annual uptick in sales prices at 10.8 percent.
This was followed by West Palm Beach, Florida; Pittsburgh and Philadelphia, Pennsylvania; and Detroit, Michigan—all of which saw price jumps of over 8 percent.
Meanwhile, the median housing payment rose by 1.4 percent annually to hit $2,633 per month at a 6.49 percent mortgage rate, the first year-over-year increase since last October, the brokerage said, attributing it to higher home prices and mortgage rates….