Home prices falling at last
1 big thing
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First Time Home Buyers - Is This the Most Affordable Market on Record?
Some experts still say this is the least affordable market on record for first time home buyers. Nyla, before I clicked on the Zoom to talk to you, I opened up a chart showing the median sales price of houses sold in the United States over the past decades and decades. Before the pandemic, say late 2019, the median home price was $327,000. So that's a big increase. And even on top of that, even though prices are coming down a little bit, those mortgage rates being twice as high as what they used to be mean that for first time buyers, typical monthly mortgage payments now are at record highs.
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