Home prices rose in the vast majority of metro areas in Q3 2022, pushing up the median income required to buy a home in the US. Of the 185 metro areas tracked, 46% registered double-digit price increases, ↓ 80% in Q2 2022. The median income needed to buy a typical home ↑ to ~$88K. The avg starting home's monthly mortgage payment ↑ to $1,808 for a ~$339K home with a 10% down payment loan.
Market Update