Housing Affordability: Homebuyers Must Earn More Now To Afford A Typical Home
Housing affordability has fallen to its lowest level in more than 10 years, according to a national trade group. Homebuyers must earn more. Last month, the nation’s home buyers needed to earn roughly $107,000 yearly, up from around $74,000 a year earlier, to afford a median-priced home, according to Redfin. In the Philadelphia metropolitan area, the annual income required to afford a house at the median sales price of…
