The Economic Times

Why home prices are rising in US and buying a house is becoming more difficult for middle-class Americans

The median home price in the United States reached a record high of $408,776 in June. Affluent buyers are fueling demand, benefiting from stock market gains and cash purchases. This trend widens the affordability gap for first-time and middle-income households. Major cities like San Francisco and West Palm Beach also saw significant price and sales growth. High borrowing costs and rising prices make homeownership increasingly difficult for average Americans.