Latest news on Real Estate in US today

US Real Real Estate Market Based on the latest news and analysis, here's a summary of the trending topics and current state of the U.S. real estate industry: 1. Affordability and the "Hopelessness" Crisis Prices Remain High:The median home price in the U.S. is still near record highs, around $400,000, despite a slowdown in sales. This is a key factor in the ongoing affordability crisis, with a recent Harvard study finding that the median home price is nearly five times the average income, far exceeding the "affordable" ratio of three times the average income. Mortgage Rates are Tumbling:A recent "disappointing" jobs report led to a significant drop in mortgage rates, with some falling to their lowest level in almost a year. This has provided a small window of opportunity for some buyers. However, many experts believe rates will remain above the pre-pandemic norm for the foreseeable future. Buyers on the Sidelines:The combination of high prices and re...