Home Prices Rebound but Affordability Squeeze Continues
- Home prices up 5% in December 2023 compared to a year before, despite high mortgage rates and low affordability
- Prices recovering since summer 2023 as inventory remains critically low
- Strongest price appreciation among most affordable homes
- Massive increase in wealth for homeowners, massive problem for first-time buyers
- Proposed bipartisan tax legislation would boost affordable housing supply to help renters buy