US Home Prices Again Rise as Tight Supply, Mortgage Rates Evaporate Affordability

Housing economists debate if affordability will improve in 2024.
US Home Prices Again Rise as Tight Supply, Mortgage Rates Evaporate Affordability
A "for sale" sign is posted in front of a home in San Anselmo, Calif., on March 22, 2023. Justin Sullivan/Getty Images
Andrew Moran
Updated:
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Home prices rose in October as lackluster housing supply continues to prop up the U.S. real estate market despite higher mortgage rates.

The average price of a single-family home with a mortgage guaranteed by Fannie Mae or Freddie Mac climbed by 0.3 percent in October, according to the Federal Housing Finance Agency (FHFA). That was down from an upwardly revised 0.7 percent increase in September.
Andrew Moran
Andrew Moran
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Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of "The War on Cash."
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