Buyers • Buying Myths • First Time Home Buyers • Infographic • Move-Up Buyers • Pricing • January 30, 2024

Why It’s More Affordable To Buy a Home This Year

by Todd McIntosh

Home affordability depends on three factors: mortgage rates, home prices, and wages.
Mortgage rates are down from their recent peak, home prices are expected to rise at a slower pace, and wages are increasing faster than usual.
That’s good news if you want to buy a home because it means affordability is getting better.