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Tagged: Housing Affordability
24 organizations send letter to Biden Administration saying act could negatively affect development of affordable housing.
Says its housing affordability index is at an historically low level.
Organization updates its 2023 ‘housing affordability pyramid.’
White households had three times as many affordable housing options as Black households.
Rising mortgage rates last year cut $305,000 off what a buyer could afford with a $3,000 payment, but that trend has started to reverse.
Mortgage rates dropping from over 7% to 6.6% this week means homebuyers have more money available.
Housing Opportunity Index shows just 42% of families earnings median income could afford the homes sold in Q3.
Johnson City, TN, nabbed the number one spot on the latest quarterly Wall Street Journal / Realtor.com Emerging Housing Markets Index.
Zillow forecasts home value growth will be nearly flat over the next 12 months, especially as inventory struggles to catch up.