People’s ability to buy a home in America has declined

 "The median American household would need 32.1% of its income to cover mortgage payments on a median-priced home, according to the Federal Reserve Bank of Atlanta. That is the most since November 2008, when the same outlays would eat up 34.2% of income.

The Atlanta Fed calculates affordability using a three-month average of median home prices from CoreLogic Inc. and median household incomes based on census data. In July, the latest month in the Atlanta Fed's calculations, median home prices were $342,350, up 23% from the year before. Median incomes were $67,031, up 3%." [1]

 If you put house prices in a list by size, then the median will be the price in the middle of that list. Half the house costs less than the median.

1. U.S. News: Home Affordability Hits Lowest Point in Years
Mccaffrey, Orla.  Wall Street Journal, Eastern edition; New York, N.Y. [New York, N.Y]. 04 Oct 2021: A.3.