Lots of housing markets are still affordable
Pending home sales improved slightly in May, meaning more offers were accepted but not finalized on existing homes than the month before, according to the National Association of Realtors. But compared to the same month a year ago, pending sales were down for the 17th month in a row. One explanation: rising home prices. A separate report out Thursday from Attom Data Solutions found that a median-priced house in a growing number of markets is unaffordable for a typical household. Still, that leaves a quarter of markets affordable, including cities like Houston, Detroit and Philadelphia.
Click the audio player above to hear the full story.
There’s a lot happening in the world. Through it all, Marketplace is here for you.
You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible.
Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.
