Housing affordability has grabbed my attention lately, especially as buyers and sellers seem more out of sync than ever. Sellers are starting to offer more concessions, which could open up opportunities for those determined to own a home—even as affordability remains a stretch. Right now, borrowing costs are the biggest obstacle: with benchmark Treasury yields hovering around 5% and average 30-year mortgage rates climbing into the low 7% range, the financial side can feel daunting. Just last month, the median monthly mortgage payment hit about $2,600—a 3% increase from last year—showing how much financing influences the market. The resale scene isn’t loosening, either. Many homeowners are hanging onto their low-rate loans, which keeps listings scarce and sellers still aiming for those peak pandemic prices. From my experience evaluating homes—especially here at the Jersey Shore—structural value and market shifts go hand in hand. Industry leaders are calling this a correction toward stability, not a crash, thanks to solid equity and responsible lending. For those weighing their next move, understanding both the numbers and the bones of a home is more important than ever.
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