Americans Need to Earn 70.1% More Today Than Six Years Ago to Afford the Median-priced Home
A U.S. household now needs to earn $114,000 annually to afford a median-priced home. That’s up 70.1% from $67,000 just six years ago according to the Realtor.com® April Housing Trends Report. While it’s clear that buying a home has become significantly more expensive, there are optimistic signs that today’s market is slowly shifting in buyers’ favor. Inventory is climbing, more sellers are adjusting their prices, and buyers are beginning to gain a bit more leverage in
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