Tag

Middle Income Buyers

All articles tagged with #middle income buyers

real-estate2 years ago•2 min saved

"Middle-income buyers struggle to find affordable homes in today's market"

Over 75% of homes on the US housing market are too expensive for middle-income buyers, with buyers earning up to $75,000 only able to afford 23% of properties listed for sale, according to a report from the National Association of Realtors and Realtor.com. The shortage of housing supply, elevated mortgage rates, and low inventory have contributed to the affordability crisis, with the housing market missing around 320,000 homes priced at or below $256,000. The US housing market has slowed in 2021, with high mortgage rates sidelining both buyers and sellers, resulting in an inventory shortage that could last for several years.

via Yahoo Finance|

#housing-affordability #inventory-shortage #middle-income-buyers

real-estate2 years ago•4 min saved

The Missing Middle: Affordable Homes for Middle-Class Buyers in Short Supply.

Less than a quarter of the 1.1 million home listings are within financial reach of the typical American household, according to a joint report from the National Association of Realtors and Realtor.com. The housing market is short about 320,000 listings within the price range of buyers earning the median household income of $75,000 a year. The affordability crunch is even worse for people of color. The nation's most expensive metropolitan areas had the fewest homes priced for middle-income buyers. Buyers on a budget will find the greatest selection of affordable homes in the cheaper parts of the country, such as the Rust Belt and Deep South.

via SFGATE|

#affordability #home-listings #housing-shortage

real-estate2 years ago•2 min saved

Housing Shortage Disproportionately Affects Low- and Middle-Income Buyers in the US

The National Association of Realtors and Realtor.com have released a report stating that the US needs more homes that households at all income levels can buy to tackle the problems of low affordability and low housing supply. The report shows that home listings affordable for middle- and lower-income households are missing, with fewer homes available for middle-income buyers now than five years ago. In the Philadelphia metropolitan area, households making $50,000 faced the largest shortage of available home listings, with 3,440 listings affordable to buyers with this income missing in April.

via The Philadelphia Inquirer|

#home-affordability #housing-supply #middle-income-buyers

real-estate2 years ago•3 min saved

Housing Shortage Disproportionately Affects Middle-Income Buyers.

Middle-income home buyers in the US are facing the most severe housing shortage of any other income bracket, with the market short of more than 300,000 affordable homes for these buyers, according to a new analysis from the National Association of Realtors and Realtor.com. Middle-income buyers can afford to buy less than a quarter of listings that are currently on the market, compared to half of all available homes five years ago. The US needs to add at least two affordable homes for middle-income buyers for every home listed for upper-income buyers.

via CNN|

#affordable-homes #homeownership #housing-shortage