Despite years of rapidly accelerating home prices, it’s becoming more affordable to purchase a home in the majority of the nation’s 100 largest markets. The number of markets seeing improvements nearly doubled since the beginning of the year. The REALTORS® Affordability Distribution Score looks at how many home listings in each market are affordable to local buyers at different income levels*. The country’s score increased to 0.84 at the end of the third quarter, up from 0.80 last year. This means that according to our measure, homes became 5 percent more affordable to buyers over the past year. However, the majority of metros across the country continue to suffer from affordable supply constraints despite recent improvements.
…
Source: Realtor.com
