We need about 420,000 homes on the market that are priced below $255,000 so that households that earn below $75,000 a year can afford a house.
WASHINGTON (May 15, 2025) – U.S. households earning $75,000 a year can only afford 21.2% of home listings as of March 2025 – up slightly from 20.8% a year prior and representing the biggest gain of any income group – demonstrating that the nation’s housing affordability gap persists, according to the National Association of Realtors® and Realtor.com® 2025 Housing Affordability & Supply report.
The report analyzes the shortage of affordable homes across different income levels in the current U.S. housing market. It provides a real-time, income-specific snapshot of housing affordability, examining what home buyers at various income levels can afford based on standard lending criteria.
For-sale housing inventory increased nearly 20% nationwide in March 2025 from one year earlier, and while this gain marks progress, it remains far from pre-pandemic conditions.
“The housing market is at a turning point,” said Nadia Evangelou, NAR senior economist and director of real estate research. “More homes are hitting the market, and it’s encouraging to see the greatest housing-supply gains among middle-income home buyers.”

I don’t see the housing market as being at any kind of a turning point.