The median home price has reached a record high, according to June data just released by the National Association of Realtors.The new housing data comes as a bipartisan housing bill is set to take effect Saturday. The bill, which President Donald Trump said he won’t sign, will still go into effect. Goals of the 21st Century ROAD to Housing Act include creating more affordable housing and increasing home construction. The Get the Facts Data Team broke down key statistics to contextualize the housing bill.Home sale pricesThe median price of existing homes reached an all-time high in June, according to the National Association of Realtors. The $440,600 price was a 1.8% increase from the year prior.Housing supply over timeThere were 1.56 million units in the total housing inventory in June, according to data from NAR. Housing inventory has gone up in recent years, but still hasn’t bounced back to pre-pandemic levels.Housing affordabilityThe housing affordability index has been at its lowest since before the Great Recession, starting in 2007.NAR calculates the affordability index, which measures a family’s ability to qualify for a mortgage on a typical home. In June, the index was 102.3. It decreased from the prior month but was up from the same time the year prior. Mortgage ratesThe average rate for a 30-year fixed mortgage was 6.5% as of this month. While down from spiking in 2023 at 7.8%, the rates have yet to return to levels seen just before the pandemic, below 5%. PHNjcmlwdCB0eXBlPSJ0ZXh0L2phdmFzY3JpcHQiPiFmdW5jdGlvbigpeyJ1c2Ugc3RyaWN0Ijt3aW5kb3cuYWRkRXZlbnRMaXN0ZW5lcigibWVzc2FnZSIsKGZ1bmN0aW9uKGUpe2lmKHZvaWQgMCE9PWUuZGF0YVsiZGF0YXdyYXBwZXItaGVpZ2h0Il0pe3ZhciB0PWRvY3VtZW50LnF1ZXJ5U2VsZWN0b3JBbGwoImlmcmFtZSIpO2Zvcih2YXIgYSBpbiBlLmRhdGFbImRhdGF3cmFwcGVyLWhlaWdodCJdKWZvcih2YXIgcj0wO3I8dC5sZW5ndGg7cisrKXtpZih0W3JdLmNvbnRlbnRXaW5kb3c9PT1lLnNvdXJjZSl0W3JdLnN0eWxlLmhlaWdodD1lLmRhdGFbImRhdGF3cmFwcGVyLWhlaWdodCJdW2FdKyJweCJ9fX0pKX0oKTs8L3NjcmlwdD4=
The median home price has reached a record high, according to June data just released by the National Association of Realtors.
The new housing data comes as a bipartisan housing bill is set to take effect Saturday. The bill, which President Donald Trump said he won’t sign, will still go into effect.
Goals of the 21st Century ROAD to Housing Act include creating more affordable housing and increasing home construction.
The Get the Facts Data Team broke down key statistics to contextualize the housing bill.
Home sale prices
The median price of existing homes reached an all-time high in June, according to the National Association of Realtors. The $440,600 price was a 1.8% increase from the year prior.
Housing supply over time
There were 1.56 million units in the total housing inventory in June, according to data from NAR.
Housing inventory has gone up in recent years, but still hasn’t bounced back to pre-pandemic levels.
Housing affordability
The housing affordability index has been at its lowest since before the Great Recession, starting in 2007.
NAR calculates the affordability index, which measures a family’s ability to qualify for a mortgage on a typical home.
In June, the index was 102.3. It decreased from the prior month but was up from the same time the year prior.
Mortgage rates
The average rate for a 30-year fixed mortgage was 6.5% as of this month. While down from spiking in 2023 at 7.8%, the rates have yet to return to levels seen just before the pandemic, below 5%.
