Your Home Is Doing More Work Than You Think: A Housing Market Update
For most people, home isn't just where you live — it's your biggest financial asset, your largest monthly bill, and probably your biggest source of debt all rolled into one. And while everyone's been watching stock market swings and global headlines lately, here's something worth paying attention to: home prices are still near all-time highs, and that quietly shapes a lot about your financial picture.
So what's actually going on in housing right now?
Honestly? It's a mixed bag.
The biggest pain point for buyers is mortgage rates. At around 6.3%, the 30-year fixed rate is a far cry from the 3% lows we saw in 2020 and 2021 — and even above the post-2008 average of 4.6%. That translates to a noticeably higher monthly payment, even if you're putting a solid down payment on the table.
Here's the catch: a lot of homeowners locked in those ultra-low rates a few years back, and they're not exactly jumping to sell and give that up. That's kept the supply of existing homes tight. In March, existing home sales actually fell 3.6%, giving back some of the gains from earlier in the year.
Builders have been trying to fill the gap — housing starts hit 1.5 million units annually back in January — but new construction takes time to move the needle on prices. And even builders are feeling cautious. The NAHB Housing Market Index dropped from 38 to 34 in April, and homebuilding stocks are barely up on the year.
Despite all of this, home prices haven't really cracked. The Case-Shiller indices show prices holding strong nationally. Outside of the 2008 bust and a brief dip when inflation spiked in 2022, prices have been remarkably resilient.
Why does this matter beyond your zip code?
Home values are a huge piece of the financial picture for Americans across generations. Baby Boomers hold over $19.5 trillion in real estate — about 24% of their total net worth. For Gen X, that climbs to around 34%. For Millennials, real estate makes up roughly 60% of their net worth (though a big chunk of that is still mortgaged).
There's a real psychological piece here too. When home values are holding up, people tend to feel more financially secure — even if they're not actively tapping into their equity. That sense of stability helps keep consumer spending going, which matters for the broader economy, especially during stretches of stock market turbulence.
This is also a good reminder that your financial picture is bigger than your brokerage account. Short-term market volatility is stressful, but if a significant chunk of your wealth is tied up in your home, those swings may be less central to your overall situation than the headlines make them feel.
And on the debt side?
Mortgages are still the largest chunk of household debt by a wide margin — bigger than credit cards, bigger than student loans. The good news is that debt service levels (what you're actually paying relative to your income) are still manageable compared to historical norms, and lending standards have been much tighter since 2008.
That said, if you bought in the last couple of years at today's prices and rates, the monthly reality is real. Worth making sure your broader plan accounts for that.
The takeaway
The housing market isn't just a real estate story — it's a financial planning story. Home prices staying elevated helps support household balance sheets and keeps the economy chugging along, even when other things feel shaky.
While it's easy to get caught up in market headlines, sometimes the most impactful financial decisions are the ones closest to home — literally. Knowing where your wealth actually lives, and how debt fits into the equation, is a solid place to start.
At Infinite Heights, we're here to help you cut through the noise and keep your eyes on what actually matters — your long-term goals. We're constantly watching market developments, digging into the data, and making moves when the timing is right, so your portfolio stays aligned with where you're headed.
If today's housing market — or anything else going on out there — has you wondering how it connects to your plan, let's talk. Your financial plan isn't a set-it-and-forget-it thing; it should grow and shift as your life does. And we'll be right here for every step of that journey.
Securities and advisory services offered through LPL Financial, a Registered Investment Advisor, Member FINRA/SIPC.
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