Home prices rose 31%, making it tough for buyers to afford loans for the average-priced home.

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It's true, if you need a loan to buy the avg priced home, you can't qualify for a loan to buy the home. Seems simple.

$430,300
Average home price in the United States: $430,300. The median home sales price is $431,000 as of the third quarter of 2023. That's a 31% increase from…

— floridanow1 (@floridanow1) December 21, 2023

See also New Home Sales Price down 6.3% YoY, down 13.5% from 2022 peak.

See also Buying a home right now at these elevated prices makes absolutely zero sense with rates this high. You can smell the desperation of the agents any house you walk into.