The U.S. median home price hit a record high—here's what it would cost you per month

Even with home sales at a historic low, prices continue to rise — adding hundreds of dollars to monthly payments so far in 2025.

In June, the median price for an existing home in the U.S. reached a record high of $435,300, according to the National Association of Realtors. That’s up 2% from a year ago and marks the 24th straight month of annual price growth.

While more homes are being built, “multiple years of undersupply are driving the record high home price,” says Lawrence Yun, NAR’s chief economist, in a blog post about the data. “Home construction continues to lag population growth.”

Rising prices, combined with mortgage rates above 6.5%, have pushed many buyers out of the market, says Yun. Homeowners are also reluctant to sell, since just over half of them have mortgage rates under 4%, per NAR.

As a result, home sales in the last two years have fallen to their lowest sustained levels since the early 2010s.