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REAL ESTATE UPDATES MARCH 2021
Here's what to expect in 2021 in real estate news. Whether you’re selling, buying or staying put, here's a roundup of the latest.
47% of New Buyers Surprised by How Affordable Homes Are Today
Most analysts only look at two of the three elements that make up the affordability equation: price and income. It’s true that incomes haven’t kept up with the price of houses. However, affordability is about the cost of the home, not just the price. For that reason, mortgage rates, the third element of the affordability equation, are important to consider.
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"At the national level, housing affordability increased in December 2020 compared to a year ago and rose compared to November, according to NAR’s Housing Affordability Index."
-Michael Hyman, NAR
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