Watch CBS News

Home prices hit record a record high in 2022

Digital Brief: Jan. 21, 2023
Digital Brief: Jan. 21, 2023 03:13

(CNN) -- Home prices hit a record high last year.

According to the National Association of Realtors, the median home price for 2022 was just over $386,000.

That's up more than 10% 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 5 million homes were sold in 2022.

That's down nearly 18% from the year before and home sales' weakest year since 2014.

View CBS News In
CBS News App Open
Chrome Safari Continue
Be the first to know
Get browser notifications for breaking news, live events, and exclusive reporting.