State of US Property Market
Let’s start by looking at some of the basic numbers on the demand side and the supply side
Demand Side
First time home affordability is at a 20 year low.
Prices have risen by 25% in the last 3 years
In 2003, the average starter home price was $144,500. As of the last quarter of 2005 it was $181,100. In just three years, new “starter” home prices have risen 25%!