Prices hit record highs in 2024, making affordability just as big a problem as it was on the eve of the 2007 housing bust. But this time, prices in most markets are expected to decelerate, not fall
In June, 5 of the top US markets showed improvement in housing affordability and supply, according to First American, while other markets with more inventory still saw rising costs
Despite record-high prices, homes remain much more affordable for buyers than they were in 2006, but buying power has taken a big hit lately
Adjusting for inflation, homes in DC are more affordbale compared to pre-recession levels
Even after inflation, LA is becoming more out of reach for homebuyers
SF homes are more affordable to local buyers compared to last year’s market conditions
Despite nominal price jumps, New York City is more affordable after considering inflation
Adjusted for inflation, Chicago home prices have significantly improved in the last 16 years
After adjusting for inflation, homebuyers have significantly more buying power compared to 10 years ago
After adjusting, house prices aren't as hot as they seem