Home buying activity (demand) is up, and the number of available listings (supply) is down. When demand outpaces supply, prices appreciate. That’s why firms are beginning to increase their projections for home price appreciation going forward. Yet, when all three market factors are combined, purchasing power increased by $24,500, thus making home buying more affordable, not less affordable. What, how is that possible you might ask??
Full Article here: Forget the Price of the Home. The Cost is What Matters.
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