The average rate on a 30-year fixed mortgage dropped 12 basis points to 6.63% on Thursday. Despite this decline, housing affordability remains a significant challenge. For the four weeks ending March 30, the typical U.S. homebuyer’s monthly payment reached a record high of $2,802 for the second consecutive week. Approximately 70% of households, totaling 94 million, cannot afford a $400,000 home. The estimated median price of a new home in 2025 is projected to be around $460,000. The minimum income needed to purchase a $200,000 home at a 6.5% mortgage rate is $61,487. In 2025, about 52.87 million U.S. households are expected to have incomes at or below this threshold, limiting their home buying options to properties priced up to $200,000. New listings in March increased by 10% annually, with active listings up by roughly 28%. However, pending sales dropped 5.2% from last March in major metropolitan areas, with significant declines in Jacksonville, Florida (15.1%), Miami, Florida (13.7%), and Virginia Beach, Virginia (14.2%).
Brian W. Jones
@SenBrianJones
·
Feb 12 In Democrats’ dystopian California, homeownership is nothing more than a fantasy—by the end of 2024, only 15% of CA households could afford a home, with the median price nearing $875,000.
No wonder people are fleeing in droves. Slash the red tape and build, build, build!
Nick Erickson
@nserickson
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Apr 2 New report form NAHB highlights how broken housing affordability is
Chat 1: What Americans Can Afford
Chart 2: Housing Values
https://eyeonhousing.org/2025/03/affordability-pyramid-shows-94-million-households-cannot-buy-a-400000-home/…
steve hilton
@SteveHiltonx
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Mar 28 All these factors, every one of them the fault of California’s Democratic legislature and Democratic governor, are why California has the lowest rate of home ownership in the United States, only 18%.
California is also the most expensive state in America for renters. To afford
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