There is no doubt that homes are more affordable now then in past years. The last year has put emphasis on the importance of one’s home. As a result, some renters are making the jump into homeownership while some homeowners are re-evaluating their current house and considering a move to one that better fits their current lifestyle.
Affordable Living
Understanding how housing affordability works and the main market factors that impact it may help those who are ready to buy a home narrow down the optimal window of time in which to make a purchase. Read full article in KeepingCurrentMatters.com.
There are three main factors that go into determining how affordable homes are for buyers:
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- Mortgage Rates
- Mortgage Payments as a Percentage of Income
- Home Prices
