First-Time Buyers Need to Earn 13% More Than a Year Ago to Afford the Typical U.S. Starter Home
Rising home prices and elevated mortgage rates have pushed the income necessary to buy the typical U.S. starter home up 13% over the last year.
As a data journalist at Redfin, Dana Anderson writes about the numbers behind real estate trends. Redfin is a full-service real estate brokerage that uses modern technology to make clients smarter and faster. For more information about working with a Redfin real estate agent to buy or sell a home, visit our Why Redfin page.
Rising home prices and elevated mortgage rates have pushed the income necessary to buy the typical U.S. starter home up 13% over the last year.
The typical Las Vegas home costs less than half as much as one in Los Angeles, San Francisco or Seattle, the most common origins for
A lack of homes for sale is pushing prices up. Inventory posted its biggest decline in 18 months as homeowners cling to relatively low mortgage
Prices posted their biggest increase in over seven months, with more demand than supply as high mortgage rates deter sellers. That pushed monthly housing payments
14 of every 1,000 homes changed hands in the first half of 2023, compared to 19 of every 1,000 during the same period in 2019.
Elevated mortgage rates are cutting into homebuyers’ budgets; a buyer on a $3,000 monthly housing budget has lost $30,000 in purchasing power over the last
Rising home prices and elevated mortgage rates have pushed the income necessary to buy the typical U.S. starter home up 13% over the last year.
The typical Las Vegas home costs less than half as much as one in Los Angeles, San Francisco or Seattle, the most common origins for
A lack of homes for sale is pushing prices up. Inventory posted its biggest decline in 18 months as homeowners cling to relatively low mortgage
Prices posted their biggest increase in over seven months, with more demand than supply as high mortgage rates deter sellers. That pushed monthly housing payments
14 of every 1,000 homes changed hands in the first half of 2023, compared to 19 of every 1,000 during the same period in 2019.
Elevated mortgage rates are cutting into homebuyers’ budgets; a buyer on a $3,000 monthly housing budget has lost $30,000 in purchasing power over the last