HOME AFFORDABILITY STILL PROBLEMATIC – BUT FOR HOW LONG
Home prices are falling. In some markets one could argue that it is the beginning of a strong correction. Maybe that is just want the housing market needs as home affordability is still at a 10-year low (Attom Data Solutions).
Wage growth is increasing, but at a snail’s pace, and home prices have been far outpacing incomes. As housing inventory increases, home prices continue to fall, and interest rates stabilize (momentarily), we may have the perfect storm for a strong buying season this spring.
BUILDERS NOT BUILDING
Housing starts dropped 11.2% in December according to the last report from HUD. Despite the monthly loss, both single-family and multifamily starts posted an…