Home buyers looking at homes for sale

The housing shortage is affecting some people and areas harder than others

In today's real estate market, an unexpected issue has emerged, one that is directly affecting a large segment of potential homebuyers. Despite a noticeable slowdown due to increasing mortgage rates, there's an undeniable shortage in the supply of homes for sale, a sharp contrast to the state of the market in 2019.

This housing shortage is affecting some segments more than others. In particular, homebuyers with an annual income around $100,000, slightly above the national average, are feeling the squeeze. Back in May, when the 30-year fixed mortgage rate was lingering in the high-6% range, these individuals could only afford houses priced around $341,000. Unfortunately,…

4202 Views, 0 Comments