NAR: Low housing inventory is driving up home prices

There’s a lack of affordable housing in this country, and it’s starting to weigh heavily on home prices. The median existing single-family home price increased 4.3% annually to $279,600 in the second quarter of 2019, according to the National Association of Realtors. NAR Chief Economist Lawrence Yun said in order to prevent greater price appreciation in more affordable metros, homebuilders must bring more homes to the market.