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The median home value in the US just 10 years ago was roughly $161,000.
Today, the median home value is $350,000, up 117%, which is 4.5x the median income.
Meanwhile, the median sales price on a home today is at $416,000, which is 5.3x the median income.
Existing home sales…
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The Kobeissi Letter
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The median home value in the US just 10 years ago was roughly $161,000.
Today, the median home value is $350,000, up 117%, which is 4.5x the median income.
Meanwhile, the median sales price on a home today is at $416,000, which is 5.3x the median income.
Existing home sales are now at their lowest levels since 2010.
With 90% of borrowers locked-in to rates below 5%, supply is scarce.
How can we get more supply in this market?
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