Affordability is on the tip of everybody's tongues right now.
Why is affordability so important?
Well, it's a measurement of how affordable it is for the average person in America to own a home.
NAR has studied this every single month and they gave us a Home Affordability Graph. And you might expect this, but home affordability has actually been going up because of something substantial, which is interest rates going down.
As interest rates go down, affordability goes up.
That's despite the fact that we've had actually super fast rising prices, right? Prices starting to go into double digit territory across the country. And then we see interest rates going down, which pushes affordability up.
But because home prices have gotten so high recently, that's actually starting to level off and come back down. But we recently had another upswing. So we're measuring a few things when we look at affordability.
When NAR looks at...
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