Home Prices Hit Record High | Sacramento News

Home prices hit a record high in June, soaring to $446,600 — up nearly 2% from last year and climbing for 36 straight months. While wage growth lags, affordability varies wildly by region: Northeast homes top $564,000, while Midwest homes hover around $346,000. Even starter homes now demand incomes of $117,000. The pandemic’s low rates fueled the surge, and despite rising mortgage rates, sales remain stuck at a 30-year low. A bipartisan housing bill aimed at easing supply and curbing investor buying was recently shelved by the President, leaving the future of affordability uncertain and homeownership out of reach for many. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/68fbcbceaca20433