US Median Home Price Jumps $8,400 in May; Gap with Average Price Widens to 27%

The US median home sales price jumped $8,400 in May to $424,900, marking the second-highest level since January 2025. Over the past two months, the median price has surged $31,800, the largest two-month increase in four years.

Meanwhile, the average home sale price rose $39,200 in May to $540,600, also the second-highest on record. The widening gap between median and average prices—now $115,700, or 27%—reflects a growing concentration of sales among the most expensive properties, pushing the average up faster than the median. For comparison, in May 2022, the gap was $79,500, or 19%.

Housing affordability continues to deteriorate as prices climb.