1026 ET - Home shoppers hoping to buy their first home may be in for serious sticker shock. While the typical starter home nationwide is worth an attainable $192,514, there are more than 230 cities where a starter home comes with a price tag of $1 million or more, Zillow says. A typical "starter home" is worth at least $1 million in 233 cities. Five years ago, there were only 85 such cities. This latest number has slipped slightly from 239 at the start of this year, as sellers have so far made a stronger return to the market than buyers, causing home values to soften. Many young households are postponing homeownership--the median age of a renter has risen to 42 years old--driving demand and prices for single-family rentals to new heights. (chris.wack@wsj.com)
(END) Dow Jones Newswires
April 24, 2025 10:26 ET (14:26 GMT)
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