“Home affordability in 2023 tanked to lowest level in 40 years”
January 10, 2024
“…Only 15.5% of homes for sale last year were affordable for the typical US household, the lowest level since Redfin began tracking the data in 2013. That’s down from the typical level of 40% seen before the pandemic homebuying frenzy began and the 21% recorded in 2022.
By a separate measure, the housing market sunk to its least affordable clip since 1984, the latest data by Intercontinental Exchange, or ICE found…”