WASHINGTON — Vice President JD Vance addressed the state of the U.S. housing market, highlighting both the challenges inherited and the early progress under the new administration.

“From 2021 until 2025 when we took over, the average price of a new home doubled,” Vance said. “Even though we’ve only been in power for about seven months, you’ve already seen home prices flatten off a little bit... But there is so much more we gotta do.”

Vance’s remarks reflect the administration’s push to tackle housing affordability, which has become one of the nation’s most pressing economic issues. The rapid escalation of home prices in recent years — fueled by high demand, limited supply, and rising construction costs — has put homeownership out of reach for many Americans.

While the Vice President noted signs of stabilization, housing experts caution that affordability remains strained, particularly in major metropolitan areas where inventory remains low. Addressing these challenges, analysts say, will require coordinated efforts on zoning reform, housing supply, and mortgage accessibility.

Vance assured the public that the administration is committed to long-term solutions aimed at easing the burden on families and restoring balance to the housing market.