US EditionHome ownership further out of reach a rising prices, high mortgage rates widen affordability gap
- Homebuyers now must earn at least $114,000 annually to afford a median-priced $431,250 home in the U.S., according to data from April 2025.
- Rising home prices and mortgage rates climbing from 4.1% six years ago to 6.76% this week have driven affordability challenges since May 2022.
- Home prices grew over 50% between 2019 and 2024 amid bidding wars fueled by pandemic-rate lows, while sales of existing homes dropped to a nearly 30-year low in 2024.
- Active listings surged 30.6% in April, with 18% having price reductions as sellers grow flexible, and economist Danielle Hale noted the market is "starting to rebalance."
- Tighter affordability continues pushing home ownership out of reach, but the rebalancing market may create opportunities for buyers prepared to act amid elevated rates.
49 Articles
49 Articles
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Homeowners across Texas are feeling the financial squeeze as insurance premiums skyrocket, and extreme weather is a major driver. A recent report from the Consumer Federation of America found that Texas has the sixth-highest average home insurance premiums in the U.S., at nearly $4,800. In the Dallas area, it's even worse — $4,900 a year, a 32% jump since 2021, according to the Dallas Morning News. Why? More destructive storms, rising construct…
Consumers are being hit by high inflation and unfavourable interest rates: these windfalls can provide relief
Many consumers are currently the ones who are struggling with their finances. High inflation is taking a big bite out of their wallets. At the same time, mortgage rates have risen and overbidding remains the norm on the housing market, but savings rates are falling. How is that possible? And are there any windfalls on the way?
Affordable housing and its challenges
Having a house to call home is one of our human rights. Home is the place to be.Throughout the years, successive governments, through numerous initiatives, have sought to support young generations in getting onto the homeownership ladder. However, current economic and new emerging social realities are proving to be challenging.Recently, a report published by the...
Rising mortgage rates push homeownership out of reach
KEY TAKEAWAYS: Buyers now need $114,000/year to afford a median-priced home. Mortgage rates have jumped to 6.76% from 4.1% in 2018. U.S. home prices are up more than 50% since 2019. Inventory is growing and more sellers are cutting prices. Home ownership is receding further out of reach for most Americans as elevated mortgage rates and rising prices stretch the limits of what buyers can afford. A homebuyer now needs to earn at least $1…
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