(KERO) — Home prices hit a record high last year.
According to the National Association of Realtors, the median home price for 2022 was just over 386 thousand dollars. That's up more than ten percent from 2021.
We saw those record prices even though the real estate market began to take a downward turn as interest rates began rising rapidly last year.
Just over five million homes were sold in 2022, which is down nearly 18 percent from the year before and home sales' weakest year since 2014.
