Even for 0% of the mortgage would cause the purchase of a house available in these American cities

During the pandemic, the buyers enjoyed the sub-3% Drander Res, which reported a wave of the first houses. At the end of 2023, however, the mortgage rates reached a peak at 8%and today remain almost 6.5%to 7%. This – in combination with house prices that are more than 50% higher than by 2020 – has locked new buyers home from market commissioning and current homeowners from sales.

Zillow announced this week that mortgage rates would drop to approximately 4.43%to make an average home available to a typical buyer. However, economic analyst Zillow Anushna Prakash said it was “unrealistic” due to the massive immersion needed to get there.

But even if death rats dropped to 0%, Prakash said, the average home, according to Zillow, would remain in some of the metro areas in some major metro areas.

These include:

• New York
• Los Angeles
• Miami
• San Francisco
• San Diego
• San Jose

This is because princes with high domestic elements are “bigger obstacle”, said Michelle Griffith, luxury broker with Douglas Elliman based in New York, said Luck.

“The fact is that buying on the market significantly on Manhattan or Prime Brooklyn still requires significant love for cash in advance,” Griffith said. “The inventory is tight and the competition is high, so the cost of the owner itself is what most buyers keep on the siding.”

From May 2020 to May 2025, the house price index has jumped with them, which is widely used to measure the prices of US residential real estate, more than 51%.

While mortgage rates are certainly increasing monthly payments more expensive, Griffith said, the availability “is more about the total price”.

“Buyers take care of rates, race, but what really matters is enough for the advance and the costs of closing,” she added. “A small shift in rates did not cause it to suddenly not make the apartment in millions of dollars.”

Another problem that contributes to a housing crisis is the lack of inventory of a lower price. Salim Chraibi, founder and CEO of Homebuilding Company Bluenest Development, said, said Luck They see pre -approved and motivated buyers in Miami, but there are not enough houses available in their price range. Chraibi focuses on building houses for families with lower and medium incomes.

“For the sellers, they hold on much on their homes because they lose lower interest rates that they locked years ago, keeping the supplies firmly and the cycle,” he said. “The biggest problem is a list of types of houses that are considering affordable for families with medium income.”

Sticker shock

As far as the US market is concerned, the overturning of one scale does not require the problem of the availability of housing.

Even buyers who pay in all money must “Connets with Sticker Shock”, Alexander Kalla, real estate broker with Estates Keller Williams Bay Area in California, said, said Luck.

The Middle Award in San Jose hovering fitness and indicating which meaningful tribes of most households before the mortgage were even considered. So even if death rats dropped to 0%, the median-Preda home in San Francisco, San Jose or anywhere else in the Bay area would still require extremely high advance and monthly payments, he explained.

While, “Many buyers are very custom -sensitive here, running numbers at every shift on the market,” Kalla said, “the main barrier is that real estate prices since the rats rose, massively overtaken the local income.”

According to a report by the US Ministry of Finance of the US Ministry of Finance, renting houses are rising faster than capture. Americans at night to create more than six numbers so that they can afford a median-Préd home, according to realor.com, but the average American salary is just more than half.

“Until we deal with the prince, offers and growth of local wages, availability will remain a challenge, no matter what happens to the rates,” Kalla said.