Home prices just did it again. For the 33rd consecutive month, the median price of an existing home climbed—this time to $408,800 in March, a record high for the month, according to the National Association of Realtors’ existing home-sales report. Politicians from President Donald Trump to New York City Mayor Zohran Mamdani have campaigned on bringing housing costs down. So far, the market isn’t cooperating.
The 1.4% year-over-year price increase came even as sales of existing homes fell 3.6% from February, a notable stumble heading into what is typically the market’s busiest season.
Even as politicians nationwide promise to build more homes to lower prices, inventory hasn’t yet matched those promises, and home prices remain elevated.
“Inventory remains a major constraint on the market,” NAR chief economist Dr. Lawrence Yun said in a statement. “The inventory-to-sales ratio, or supply-to-demand ratio, is below historical norms. An additional 300,000 to 500,000 homes for sale would help bring the market closer to normal conditions.”
Affording a home in 2026 takes more income than ever. To purchase the median priced home in the US — currently $405,300 — a household needs to earn $99,874 per year. That figure is based on a 6.37% 30-year fixed mortgage rate, a 20% down payment, and the standard 28/36 affordability rule that limits housing costs to 28% of gross income.
Where you live makes an enormous difference. In West Virginia you can afford the median home on roughly $43,000 a year, while Hawaii requires more than $200,000. Use the interactive map and state breakdowns below to see exactly where you stand.
https://wealthvieu.com/income-afford-home/
Home prices are now 5x annual income.
This is the problem. pic.twitter.com/xcR18ytbrx
— Jon Brooks (@jonbrooks) April 11, 2026