Home prices hit an all-time high in May, as the median home price across the nation jumped 5.8% from the year prior as sales dropped by 0.7%, the National Association of Realtors <a href="https://www.nar.realtor/newsroom/existing-home-sales-edged-lower-by-0-7-in-may-as-median-sales-price-reached-record-high-of-419300" rel="nofollow noopener noreferrer" target="_blank" class="color-link" title="https://www.nar.realtor/newsroom/existing-home-sales-edged-lower-by-0-7-in-may-as-median-sales-price-reached-record-high-of-419300" data-ga-track="ExternalLink:https://www.nar.realtor/newsroom/existing-home-sales-edged-lower-by-0-7-in-may-as-median-sales-price-reached-record-high-of-419300" aria-label="said">said</a> Friday.

<div class="image-embed__placeholder"><img src="https://specials-images.forbesimg.com/imageserve/66758d2d072bdbff52ef67f5/Off-The-Charts-Home-Prices/960x0.jpg?cropX1=0&amp;cropX2=2409&amp;cropY1=150&amp;cropY2=1505" alt="Off The Charts Home Prices" width="100%" height="auto"></div><figcaption><fbs-accordion><p class="color-body light-text">The median price for homes in the U.S. rose 5.8% in May compared to last year, a new report shows. </p></fbs-accordion><small>Copyright 2022 The Associated Press. All rights reserved</small></figcaption>

 <div class="key-facts-element"> <p><em>This is a breaking story and will be updated.</em></p>  </div>


The median price for homes in the U.S. rose 5.8% in May compared to last year, a new report shows.{ai:summary}<p>Home prices reach record high as sales drop, NAR reports. U.S. median price up 5.8% from last year. #economy</p>

U.S. Home Prices Hit Record High In May

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