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According to theFRED, the averagesales price of a new homein the third quarter of 2024 was $492,700.
But things could be turning around in some housing markets.
Here are cities where starter homes have become more affordable andother key changes to the housing market.
This is down roughly 4% from last year.
This doesnt mean starter homes are affordable to everyone, however.
Starter home prices have risen by 4.2% in the past 12 months.
Theyre also 163% higher than they were in August 2012.
Recent data indicates theyre unlikely to become much more affordable in the coming years.
Metro Areas Where Starter Homes Became Affordable
There is good news, however.
Notably, all four are in either Texas or Florida.
