By Anna Bahney, CNN BusinessThe real estate market was on fire last year, with the frenzied pace of sales activity pushing home prices to record highs. The median home sales price was $346,900 in 2021, up 16.9% from 2020, and the highest on record going back to 1999, according to the National Association of Realtors. “The housing market has seen a spectacular performance this last year with sales rising and prices rising. But inventory is at an all-time low.”By the end of 2021, there were fewer homes for sale than ever. The inventory of unsold existing homes fell to a record low of 910,000 at the end of December.

Source: CNN January 20, 2022 16:41 UTC