Home Buyers Continue to Struggle with Affordability

Home buyers appear to be more optimistic about future home availability. However, when it comes to affording their new home, they remain pessimistic. 79% of future home buyers said in the 4th Qtr., of 2019, that they can afford less than half of the homes that are available in their marketplace. This is up from 76% from just a year ago. This is the third straight year-over-year increase in the share of buyers who are reporting that fewer than 50% of house for-sale in their market are in their current price range.

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Affordability Expectations Show No Improvement among Home Buyers