U.S. home prices climbed to a record of $391,200 in April, but the number of sales fell as high prices and rising interest rates pushed more buyers out of the market.
The U.S. housing market has started to slow after a two-year frenzy spurred by record-low mortgage interest rates and a desire for more space during the Covid-19 pandemic. Mortgage rates have climbed sharply in recent months, making home-buying less affordable.
