Since the 2020 election, the median monthly housing payment in swing states has nearly doubled, rising by 92% to an all-time high of $2,161. This increase is due to a combination of soaring home prices and higher mortgage rates.
The median home-sale price in swing states has increased by nearly 40% since 2020, reaching a record high of $316,063 in 2024. Additionally, the average mortgage rate has more than doubled from 2.65% at the start of 2021 to 6.89% in 2024.
"Swing-state housing payments have nearly doubled since the 2020 election, as home prices and mortgage rates have soared."@Redfin pic.twitter.com/vjILUKbCp3
— Daily Chartbook (@dailychartbook) July 17, 2024
Sources:
www.redfin.com/news/swing-state-housing-affordability-2024/
finance.yahoo.com/news/swing-states-typical-homebuyer-monthly-120000532.html
thehill.com/business/housing/4776085-home-prices-swing-states-nearly-doubled-since-2020/