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ir economy Notable (6/10) ·

Homebuyer Affordability Fell for a Fifth Straight Month in June, NAR Data Shows

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Homebuyer Affordability Fell for a Fifth Straight Month in June, NAR Data Shows
You now need $109,152 in income to qualify for a median-priced home, according to the National Association of Realtors. Prices climbed and mortgage rates stayed elevated after the Iran war spooked markets, but the math is actually a hair better than a year ago.

Buying a house isn't getting easier. It's just getting slightly less bad than it was a year ago, and that's about the nicest thing anyone can say about it right now.

The National Association of Realtors' housing affordability index dropped in June for the fifth month in a row, according to CNBC's review of the data. To qualify for a mortgage on the median-priced single-family home, $446,400, at the average 30-year fixed rate of 6.

Sources used for this briefing

2 links from 2 independent newsrooms (syndicated copies of the same report count once)

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CNBCHomebuyer affordability slipped for fifth straight month, real estate index shows
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realtorAffordability Index Drops for Fifth Consecutive Month