$1 million starter homes are common in more than 100 towns in America, Zillow data shows

$1 million starter homes are common in more than 100 towns in America, Zillow data shows
https://finance.yahoo.com/news/1-million-starter-homes-are-common-in-more-than-100-towns-in-america-zillow-data-shows-123042215.html?_fsig=_BYXVfrNISevAR3pym9aFA--%7EA

Summary

Certainly! Here are the key takeaways from the article about rising starter home prices:

• Starter Home Prices: The average starter home nationwide is priced at $196,611, but prices have surged 54.1% over the past five years[^1^][1][^2^][2].
• High-Cost Cities: At least thirteen states have cities or towns where starter homes are worth $1 million or more, with California leading the list[^3^][3].
• Affordability Challenges: Soaring home prices, high mortgage rates, and limited inventory are making homeownership less accessible, especially for first-time buyers[^4^][4].
• Fed Impact: The Federal Reserve's efforts to curb inflation have contributed to housing affordability struggles, although recent mortgage rate declines offer some relief.