These U.S. cities have $1 million entry-level homes, a report finds. Is this the new norm?

The report from Zillow highlights that an unprecedented number of U.S. cities now feature entry-level homes priced at $1 million or more, with California having nearly half of these high-cost areas. This surge reflects the ongoing challenges in the housing market, where even modest homes are reaching astronomical prices. Analysts are questioning whether this trend signals a new norm, as skyrocketing real estate values could impact everything from mortgage rates to local economies, potentially reshaping the American dream of homeownership.