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Home prices across the U.S. surge to all-time high
CBS News • • business
Key Points:
- U.S. home prices reached a record median of $440,660 in June, marking 36 consecutive months of price increases amid ongoing housing affordability challenges.
- The median prices vary significantly by region, with the West at $633,600 and the Midwest at $346,600 for single-family homes, highlighting regional disparities in housing costs.
- Despite rising prices, the housing market has slowed since 2022 due to higher mortgage rates, with home sales remaining near a 30-year low and only a slight increase in sales in early 2026.
- The bipartisan 21st Century ROAD to Housing Act, aimed at improving affordability by easing construction regulations and limiting institutional home purchases, is stalled after President Trump delayed signing it pending passage of an elections bill.
- Affordability remains a critical issue, as most first-time buyers cannot afford typical starter homes, requiring an annual income of about $117,000, underscoring the urgent need for increased housing supply.
