A recent report highlights a significant challenge facing more than 40% of the nation’s largest metropolitan markets: an acute shortage of affordable housing. Since the onset of the pandemic, the housing sector has grappled with soaring demand and limited supply, resulting in national home prices soaring 39% above pre-pandemic levels. Although there are signs of easing supply constraints, particularly in the mid- to upper-income brackets, entry-level and affordable housing options remain critically underrepresented. The imbalance in affordability is evident, especially for households earning less than $75,000 annually, which face a stark decline in available listings from previous years.

Key findings from the report underscore the disparity in affordability across income brackets:
– **Middle-Income Buyers:** For those earning between $75,000 and $100,000, home affordability has marginally improved, with listings accessible to this demographic increasing from 20.8% to 21.2% year-over-year.
– **Lower-Income Buyers:** Those earning below $75,000 face even harsher conditions, with only 8.7% of listings within reach compared to 27.8% in 2019.
– **High-Income Accessibility:** Buyers making $250,000 or more have virtually unlimited access to the housing market, affording over 80% of listings.
– **Regional Variability:** Increases in housing supply have been uneven, with the Midwest and South seeing more significant improvements, leaving many low- and moderate-income households without ample affordable options.

You can read this full article at: https://papersourceonline.com/heres-exactly-how-unaffordable-todays-housing-market-is-and-where-its-getting-worse/(subscription required)

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