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.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
