NEWYou can now listen to Fox News articles! For many would-be homeowners, the financial hurdle to buying a starter home has grown dramatically over the past seven years. The income needed to afford a typical starter home has jumped more than 80% since 2019, according to a new Realtor.com report. Americans now need an annual … Read more
Buying a first home remains out of reach for many Americans, with fewer than 4 in 10 non-homeowner households able to afford a typical starter home, a new LendingTree analysis found. A typical starter home costs $200,000, with LendingTree defining entry-level homes as owner-occupied properties valued at the 25th percentile of the housing market. The … Read more
The dream of home ownership is becoming more elusive for some first-time buyers. Zillow found that a record 242 cities have starter homes valued at $1 million or more. Orphe Divounguy, senior economist at Zillow, joins “The Takeout” to discuss. Source link
Online real estate marketplace Zillow found that 242 U.S. cities now have starter homes worth $1 million or more, nearly triple the number of cities reported in 2020. The company defines a starter home as one in the lowest third of home values in a given region. CBS News MoneyWatch reporter Megan Cerullo has more. … Read more
As U.S. housing costs continue to climb, 242 cities across the country now have “starter homes” costing at least $1 million, according to Zillow. The number of metropolitan areas with basic homes worth at least seven figures has tripled since 2020, the real estate firm said in a new analysis. Zillow defines a starter home as … Read more