Tag: Median Home Prices

EconomyLeave a comment

U.S. home prices hit a record high as sales fell. Here’s how housing experts explain the trends

Gary Dickson

U.S. median home prices hit record highs for the second consecutive month, while existing home sales fell 5.4% in June. The high prices and mortgage rates have deterred buyers, leading to slow sales. Housing experts attribute this trend to high demand, low inventory, and aging population. Government proposals aim to address housing affordability, while some states have implemented their own policies. Continue reading U.S. home prices hit a record high as sales fell. Here’s how housing experts explain the trends

Economy, South DakotaLeave a comment

Rapid rise in South Dakota home prices is ‘not sustainable,’ economist says

Gary Dickson

Average first-time homebuyers can expect to spend about two-fifths of their pre-tax income on a monthly payment for a house in South Dakota.

“This situation is unheard of,” said Dakota Institute CEO Jared McEntaffer.

He addressed the Governor’s Conference on Economic Development on Wednesday at the Sioux Falls Convention Center.

McEntaffer called home prices one of the biggest economic issues the state faces. His analysis highlighted the decoupling of housing costs from incomes, posing a challenge for attracting new workers. Continue reading Rapid rise in South Dakota home prices is ‘not sustainable,’ economist says