Housing affordability is under fresh pressure as the median U.S. home price reaches a record high and mortgage rates remain elevated. At the same time, a bipartisan housing bill is set to take effect Saturday, even though President Donald Trump said he will not sign it.
The contrast is stark: prices are still climbing while lawmakers are trying to push more housing supply into the market. According to www.wmtw.com, the new measure is meant to help create more affordable housing and increase home construction.
Record home prices
The National Association of Realtors said the median price of existing homes hit $440,600 in June, an all-time high. That figure was up 1.8% from the same month a year earlier.
What the housing inventory shows
| Metric | June Figure | What It Means |
|---|---|---|
| Total housing inventory | 1.56 million units | Supply has risen in recent years but remains below pre-pandemic levels |
| Housing affordability index | 102.3 | Still at its lowest point since before the Great Recession |
| 30-year fixed mortgage rate | 6.5% | Down from 7.8% in 2023, but still above pre-pandemic levels below 5% |
The National Association of Realtors calculates the affordability index based on a family’s ability to qualify for a mortgage on a typical home. In June, the index slipped from the prior month but was higher than a year earlier.
Why the bill matters now
The 21st Century ROAD to Housing Act is designed to expand housing supply and make homeownership more attainable. Even without the president’s signature, the bill will go into effect, setting up a political fight over affordability as prices stay near historic highs.
For buyers, the message from the latest data is clear: more inventory and slightly lower mortgage rates have not yet been enough to bring relief back to the market. The gap between household budgets and home prices remains wide, and the pressure on policymakers is unlikely to ease soon.