URL has been copied successfully!
Household income required to purchase a starter home in the United States has risen to $78,000 from $43,000 seven years ago, according to a July 20 report from Realtor.com. The 80-plus percent increase far outpaces America’s median household income, which grew by 28.3 percent, from $69,000 to $88,100, over the same period.
The report also indicates that compared to June 2019, there are now about 300,000 fewer homes on the market priced under $350,000—reflecting the reduced supply of starter homes. In addition, seven years ago, the average starter home sold for $256,000, compared with the current average of $344,000.
The report shows that in June 2019, 55.1 percent of active listings were priced under $350,000, but that amount has dropped to 37.6 percent today. …
The report also indicates that compared to June 2019, there are now about 300,000 fewer homes on the market priced under $350,000—reflecting the reduced supply of starter homes. In addition, seven years ago, the average starter home sold for $256,000, compared with the current average of $344,000.
The report shows that in June 2019, 55.1 percent of active listings were priced under $350,000, but that amount has dropped to 37.6 percent today. …
Please follow us:
