According to the latest Real House Price Index report from First American, the housing market is experiencing historically low levels of affordability, reminiscent of conditions not seen in over thirty years. The report provides a grim outlook for potential homebuyers, indicating that relief from the current affordability crisis is not expected in the near future.
Key points from the report include:
– Affordability in the housing market is at its lowest point in over thirty years
– Relief from the affordability crisis is not expected to come in the near future
– The May 2024 Real House Price Index report from First American highlights the severity of the current housing affordability challenges in the market
You can read this full article at: https://www.housingwire.com/articles/housing-affordability-reaches-lowest-point-in-more-than-three-decades-first-american/(subscription required)
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