For the first time since 2020, housing affordability improved year over year. This is largely due to a drop in mortgage rates, which have dipped from 7.07% to 6.09% over the past year. While this is undoubtedly great news for home buyers, affordability remains a challenge for many. According to recent data, U.S. buyers now need to earn around $115,000 annually to afford the typical home, down 1.4% from last year. Yet, the average U.S. […]
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