Home Prices Hit Record in June

Home prices hit a new high in June for the second straight month, the latest sign that the housing market is unaffordable to millions of Americans. The spring home-buying season, usually the busiest time of year for the housing market, was a dud this year. Home sales declined in June for the fourth straight time on a monthly basis. The combination of high prices and elevated mortgage rates has made homeownership less attractive to renters and deterred current homeowners from moving.