Homes For Sale Inventory Maybe Increasing . . . But Affordability Remains a Significant Issue

Last week’s Housing Trend Report (HTR) for the first quarter of 2020, gave buyers reason to hope that the recent tightness in the available homes for sale inventory was easing. This week they are learning that while you might be a bit easier to find a home, it certainly will not be any more affordable. In fact, 78% say they can afford fewer than half of the homes available in their markets. Which is the same share as a year earlier. At least 75% of buyers in each of the four generations can afford fewer than half the homes for sale where they live. Geographically, 74% to 80% of buyers in every region of the country say they can afford under half of the homes available in their areas.