Amid rising demand and limited supply, U.S. home prices have increased by nearly 4% in early 2024, indicating ongoing affordability challenges across the housing market.
Coastal counties have consistently attracted a significant population, with over 30% of Americans residing in these areas despite their limited availability, leading to skyrocketing home prices.
Though home prices dipped recently, the market remains more expensive overall than at the beginning of the year, with September listings averaging $425,000.
California's home prices have surged even higher, with a median list price of $767,675 in September 2024, reflecting the intense competition and demand for coastal real estate.
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