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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…
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