By Point2 | AZ Big Media
Despite it all, home prices just keep skyrocketing. In the largest, most desirable U.S. cities, the number of homes worth more than $1 million has exploded, nearly doubling compared to pre-pandemic times. And, while this may be great news for those who already own a home, it’s definitely dispiriting for homebuyers. But for those looking for affordable homes, Mesa leads the nation in the number of affordable homes available.
Accordingly, the increases in prices mean that the threshold for what can be considered affordable housing is rising, as well: Although $150,000 might still mean something for homebuyers in certain parts of the country, it’s come to mean almost nothing for those wanting to get on the housing ladder in the top 50 most populous cities. Whether they’re called entry-level homes, starter homes or simply cheap houses, the properties that should be the opposite of ultra-luxury are becoming more and more scarce.
