Affordability has been a real challenge for buyers in recent years. But according to a recent report from Realtor.com, it looks like that’s starting to shift.
According to Realtor.com’s Q3 2019 Affordability Report, affordability increased 5 percent from September 2018 to September 2019, with 81 of the 100 largest metro areas in the United States seeing improved affordability over the past year. The main contributors to the shift in affordability? Growing incomes, decreasing mortgage rates, falling listing prices, and increases in available inventory.
What does that mean for you? If you’ve struggled with finding affordable properties in your area, it seems that the market is shifting—and the increased affordability could make it easier to find and buy the perfect home.