2023 was the least affordable homebuying year in at least 11 years, Redfin says
Publishing timestamp: 2023-12-07 09:48:47
Summary
According to a report from Redfin, this year was the least affordable year for homebuying in over a decade. California metro regions were ranked as the least affordable areas, while Midwest metros were the most affordable. Listing prices for next year are expected to ease. Monthly housing costs have increased more than wages, and the 30-year fixed mortgage rate hit 8% in October. However, Redfin predicts that affordability will improve in 2024 with lower mortgage rates and prices.
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Keywords: business, economy, housing, social issues, personal finance, mortgages, redfin corp, business news, real estate, breaking news: economy, united states, san francisco, life,
Source: https://www.cnbc.com/2023/12/07/2023-was-the-least-affordable-homebuying-year-redfin.html