- Of roughly 1.1 million homes listed for sale in April, only 25% were affordable to households earning the national median income of $75K.
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- NAR reports the housing market is short more than 300K homes in price points middle-income buyers can afford, creating fierce competition.
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- Mortgage demand remains strong despite tight inventory. Purchase applications were up 8% for the week, though down 24% from last year.
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