A starting house is now cost $ 1 million in half of the US states, reports

• Get a starting house For the first time as the buyer’s exciting and the recognition of financial security. However, in the United States, more cities receive a starting house, hundreds of cities have been given a barrier of $ 1 million to access.

A new housing report reveals the obstacle to the first time in hundreds of homebuyers.

Apartment platform application Zillow report There are 233 places where it is simple in the United States “Starting house“A less expensive route to have a larger house will now be $ 1 million or more.

And this is not just a California problem, Zillow wrote Anushna Prakash. New York, New Jersey, Florida, Massachusetts, Washington and Texas are now boasting cities in a million dollar start-home club. This is more evidence that the crisis of the apartment of housing “to stay here” New research From Oxford’s economy.

This month, the company, the National Housing Index Index (HAI) said 72.8 in the last quarter of 2024, which was 72% of a house that earned US median income, only has a medium-valued house. This means that a promising homebuyer needs a payment hike about $ 30,000 to work at home price.

According to the Oxford economy, there are no quick adjustments to the horizon. Even if home prices are flat this year, HAI is not forecast to approach the affordability limit since 2035. Higher property taxes and weak prospects for low housing inventory and low mortgage prices are also great factors.

According to Federal Reserve Economic InformationIn the last five years, the average house price increased by 31%. In 2020, the median sales price was $ 317,000 compared to the price of $ 416,900. Although this price is lower than the summit of $ 442,600 since the end of 2022, the prices are much higher than five years ago.

There are also builders signal President Trump’s tariffs will not do homebuyers who hope any blessings. Tariffs In imported goods, the House Prime Ministers are forecasted to affect $ 10,900 in each house and Wells Fargo Housing market index request.

Dr. Horton$ 39 billion house founder, Missed earnings this month’s estimates During the year, it reduced the income forecast for $ 37.8 billion to $ 37.5 billion for $ 37.8 billion.

CEO Paul Romanowski investors Spring home sales season, generally the busiest period for buyers and sellers, consumer confidence and affordable issues.

“This year’s spring sales season began more slowly than expected, because the potential home founder has been more cautious due to the restrictions and decline in consumer confidence,” Romanowski said. “We expect our level of incentive to stay at a high level and increase, which will depend on market conditions and changes in mortgage interest rates. “

This story was first displayed Fortune.com

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