NAR President Kevin Sears also raised concerns about Biden Administration regulations that could create hurdles to affordability.
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Category: housing affordability
One in five millennials think they’ll never own a home
Eighteen percent of millennials — approximately one in five — believe they will never become a homeowner, according to a recent survey from Redfin.
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Housing affordability falls to lowest level since 2008
Housing affordability fell to its lowest level since 2008 in October as home prices rose 19.6% from last year.
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Home prices more affordable than the 2006 housing peak
Housing affordability has changed across all 50 top markets, proving to be more affordable than it was during the previous housing peak, according to First American Financial’s latest Real House Price Index.
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Housing affordability hits 10-year low
Just 56.6% of homes sold during the quarter were affordable to families earning the U.S. median income of $79,900, according to the National Association of Homebuilders/Wells Fargo Housing Opportunity Index.
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Housing affordability falls for a third straight month
Affordability declined in 49 of the 50 major markets according to the May 2021 First American Real House Price Index.
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Rising home prices wipe out affordability gains brought on by low interest rates, higher income
Higher income, backed up by lower mortgage rates, has expanded the reach of the average homebuyer, but an increased demand for homes has concurrently driven up prices, negating two of the three main factors in First American Financial Corp.’s Real House Price Index.
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