Home prices

08 obama economy home prices

The financial crisis was caused in part by too many homes being sold to people who could not afford them. As a result, the housing sector was hit hard by the Great Recession and even people who could afford to buy a home struggled to get mortgages.

But there are signs of hope as more people have jobs and are coming back to buy homes. The median sales price of existing homes in the U.S. is $232,000, according to the National Association of Realtors. That's better than before the sunny days before the downturn.

First published January 6, 2017: 11:46 AM ET

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