Home prices in the United States rose by 10% in the first half of 2025, with a median price of $439,450 in July. Many households are unable to afford a home priced at $300,000 while existing prices exceed this amount. The housing affordability crisis persists, driven by an imbalance between supply and demand. An estimated 4.5 million new homes are needed to meet demand. However, certain local markets are seeing significant declines in home prices despite national trends.
Home prices in the United States surged by 10% in the first half of this year, with a median list price of $439,450 in July 2025, just below the all-time high.
America's housing affordability crisis persists, with over half of U.S. households unable to afford a $300,000 home, exacerbated by a significant supply and demand imbalance.
The U.S. needs at least 4.5 million new homes to meet demand, while an estimated 57% of American households cannot afford a home priced over $300,000.
Despite the national trends, local real estate markets vary, and some cities have experienced significant drops in home prices in the first half of 2025.
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