The U.S. housing market has changed significantly since the pandemic, with median home prices rising from $329,000 in early 2020 to over $420,000 by late 2024, while mortgage rates have exceeded 6%. This has slowed home sales, and an inadequate housing supply persists. The aging Baby Boomer population, now over 30% of the U.S. population, is opting to age in place, limiting available homes for younger buyers. Older buyers, who represent 21.2% of the market, often have financial advantages, making competition tougher for younger homebuyers.
Continue to full article