Homeownership Affordability Slumps Due To Pandemic Here S How To Improve Your Chances Of Buying A Home
The median home prices of single-family homes and condos in the third quarter of 2020 are now less affordable than historical averages in 63% of counties across the US, up from 54% a year ago, the new report (opens in new tab) showed. Affordability is calculated on the income an average worker needs to meet mortgage, property tax and insurance payments each month on a median-priced home, assuming they have a 20% down payment and use no more than 28% of their income on those payments....