Are affordable houses making a comeback?

Amy Scott Nov 26, 2019
HTML EMBED:
COPY
A "price reduced" sign on a home for sale in Royal Oak, Michigan. Bill Pugliano/Getty Images

Are affordable houses making a comeback?

Amy Scott Nov 26, 2019
A "price reduced" sign on a home for sale in Royal Oak, Michigan. Bill Pugliano/Getty Images
HTML EMBED:
COPY

After the housing market crashed in the mid-2000s, builders shifted their focus to higher-end homes where they could make more money.  That’s led to a shortage of starter homes, which has driven up prices at the lower end of the market. But there are signs the entry-level market is coming back. The research firm Capital Economics predicts 55% of new homes will sell for less than $300,000 next year, up from just 40% two years ago. But with a smaller price tag may come a smaller house.

Click the audio player above to hear the full story.

As a nonprofit news organization, our future depends on listeners like you who believe in the power of public service journalism.

Your investment in Marketplace helps us remain paywall-free and ensures everyone has access to trustworthy, unbiased news and information, regardless of their ability to pay.

Donate today — in any amount — to become a Marketplace Investor. Now more than ever, your commitment makes a difference.