Housing affordability hits historic low ...Middle East

The Hill - News
Housing affordability hits historic low
source : The Hill ( Middle East ) () 57
Fewer than a quarter of homes listed for sale nationwide qualified as affordable for the typical U.S. household, according to a new report shared exclusively with The Hill.  The report, released Friday by real estate brokerage Redfin, found that the number of affordable listings in 2022 fell by more than half from the previous year — the largest annual drop on the company’s record dating back to 2013.  Redfin analyzed home listings in the nation’s 100 most populous metros, marking a listing as affordable if its estimated monthly mortgage payment did not exceed 30 percent of the local county’s median income.  “Housing affordability is at the lowest level in history, which is widen

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