Marketplace has a new podcast for kids, "Million Bazillion!" EPISODE OUT NOW

Housing’s double whammy: low inventory, high prices

Mitchell Hartman May 23, 2019
HTML EMBED:
COPY
Frederic J. Brown/Getty Images

Housing’s double whammy: low inventory, high prices

Mitchell Hartman May 23, 2019
Frederic J. Brown/Getty Images
HTML EMBED:
COPY

We got some indicators of the state of the all-important spring housing market Thursday, and it doesn’t seem great for some homebuyers right now.

New home sales fell in April by nearly 7%, and that decline was mostly in the low end of the market. At the same time, the median price of a new home rose nearly 9% from a year ago to $342,000.

Demand for new homes is highest among people in their 20s and 30s, but for those buyers, low inventory and high prices make for a challenging housing market.

We’re here to help you navigate this changed world and economy.

Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.

In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.

Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.