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- Home prices in over half of the US saw record price increases last quarter.
- Median home prices rose 8.5% in the second quarter to $402,600, per NAR data.
- Housing affordability has been strained for the past year due to high mortgage rates and low inventory.
Home prices saw a record increase in over half of the US housing market over the past quarter, deepening the increasingly unaffordable conditions homebuyers are facing.