Challenges in the Homebuying Market

According to NBC's new homebuyer index, it has been harder to buy a home than any other period in the last decade, with the average home almost $70,000 more than the average household can afford. Experts predict the housing market will remain challenging for buyers with mortgage rates likely staying close to 7% through the end of the year.

Housing Market Trends

Housing market is starting to thaw this spring as homebuying picks up, inventory increases, and buyers have more options. Mortgage rates are high but experts see a 'new normal' with limited inventory and steady demand. Buyers have more leverage, can take time in the process and may benefit from tepid home price appreciation.