Why It’s More Affordable to Buy a Home This Year [Infographic]

Some Highlights

Home affordability depends on three factors: mortgage rates, home prices, and wages.
Mortgage rates are down from their recent peak, home prices are expected to rise at a slower pace, and wages are increasing faster than usual.
That’s good news if you want to buy a home because it means affordability is getting better.

Let’s dive into what it is and why it won’t drastically impact the housing market.

This is the first time since 2020 that we’ve seen an uptick in new listings this time of year.

Home affordability depends on three factors: mortgage rates, home prices, and wages.

To help ease that concern, here’s what experts forecast will happen with prices this year.

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