Things can only get better in 2024 when it comes to housing affordability.

Consider that the average monthly new home payment has risen from $1,787 to $3,322 since 2020, according to an analysis from The Wall Street Journal.

On top of that, a record-low percentage of homes were affordable in 2023 (15.5%), according to Redfin. That's down from a then-record 20.7% in 2022 and more than 40% before the pandemic homebuying boom.

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