U.S. median home prices hit record highs in June 2024, according to the National Association of Realtors. Coupled with a high-interest-rate environment, homebuyers are struggling to afford to purchase a home. 

“What this really means is we have a pain point for the buyers, the real estate agent, brokers and attorneys who rely on all of these home sales to make a living — we're seeing fewer of those transactions,” said Trip Miller, (NMLS ID# 413467), First Vice President and Loan Origination Manager at Cambridge Savings Bank. 

In this podcast, Miller discusses the housing market in Massachusetts and beyond, as well as down payment assistance programs that could alleviate some of the costs associated with a home purchase. 

Listen to this podcast to learn about: 

• The current state of home affordability. (00:42) 
• The median price point for a home in Massachusetts. (2:00) 
• Down payment assistance programs, and how they can benefit homebuyers. (5:17) 
• What brokers need to know about down payment assistance programs. (8:05)