The housing market continues to face affordability challenges post-pandemic, driven by low supply and high prices. Nationally, prices are 39% higher than pre-pandemic levels in March 2019. Although demand remains strong, it is concentrated in the lower-priced segment, which remains undersupplied. A report from the National Association of Realtors highlights that middle-income buyers can afford only 21.2% of listings, compared to 48.8% in 2019. Low-income buyers face even greater constraints, with only 8.7% of listings within reach. Higher-income households have broader access to the market. Some regions, like the Midwest and South, have seen improvements in inventory, but markets such as Los Angeles and New York continue to worsen due to factors like underbuilding and restrictive zoning laws. — new from CNBC
