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business1d ago
US home prices are rising — but these fast-growing markets remain affordable
- Latest data show affordability rising in Midwest and South as national home prices cool.
- Cape Girardeau, Missouri, leads with nearly 20% yearly price growth and a $275,000 median.
- Other notable markets include Cumberland, Maryland; Owensboro, Kentucky; and Anniston-Oxford, Alabama.
- National median home prices rose 1.2% year over year to $414,900 amid ongoing headwinds.
- Mortgage payments fell 5.7% from the previous year to about $2,057 per month.
- Migration toward lower-cost regions continues to shape housing market dynamics.
- Prices in some overheated markets are correcting while Western markets face pressure.
- Affordability remains a central focus for policy discussions and potential solutions.
- The report cites strong price growth in non-coastal communities despite a cooling national market.
- Overall market indicators show resilience even as some regions slow.
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