Housing is still unaffordable — but one corner of the market says things may soon get better

• The housing market may still feel unaffordable, but recent data suggests reason for optimism.
• Industry sentiment is ticking higher, construction is ramping up, and residential investments are climbing. 
• Home builder DR Horton reported that it expects to close on more homes than previously expected. 

No one can pretend that buying a home in the US is cheap right now. 

Nearly 7% mortgage rates and tight inventory are still keeping affordability low, and current owners staying put are making it hard for house hunters to find anything to buy. Redfin reported that a mere 1% of homes have changed hands in 2023 — the lowest proportion in at least a decade.