The term "home affordability" has taken on a whole new meaning, one that has left many residents bewildered by the sheer magnitude of change. To truly grasp the enormity of this shift, let's rewind the clock to January 2021 when mortgage rates hovered at a modest 2.76%. Back then, the median home price in Central Ohio stood at a mere $207,000. Prospective homeowners could secure their piece of the American dream for an average monthly payment of around $953, given a 20% downpayment.

The new Intel plant coming to Licking County is undoubtedly an exciting development for the area, projected to bring 3,000 permanent jobs and 10,000 construction workers. However, this positive news raises an important question: where will these thousands of individuals find housing?

The real estate market is currently experiencing a shortage of new listings, which has resulted in a decrease in the number of homes available for sale. In fact, new listings have reached their lowest level for any early June on record

The active inventory of luxury homes priced over 500k is up by 20% compared to 2022. On the other hand, pending sales for this price point are down by 46% compared to 2022.