Source: NAHB —
Housing affordability posted a modest gain for average conditions in the first quarter of 2022 as a strong jump in national median income helped to offset a gradual rise in interest rates. However, home builders warn of current deteriorating conditions as a sharp jump in mortgage rates in March and April coupled with ongoing building material supply chain disruptions, labor shortages and high inflation drive up housing costs.
According to the National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunity Index (HOI), 56.9% of new and existing homes sold between the beginning of January and end of March were affordable to families earning the U.S. median income of $90,000. While this is up from the 54.2% of homes sold in the fourth quarter of 2021, current market indicators point to worsening affordability conditions.
owning still beats making landlord rich negotiate with your realtor no need in this market or any market to pay more than 5% to list a house and if listing agent brings buyer as well 4% is enough. buying a house ?? ask your realtor how about a rebate depending on price of house 500 or 1000 !! it’s legal is they say it’s not go find another realtor who will