‘Priced out of big cities, middle class moves inland’

‘Priced out of big cities, middle class moves inland’

From the National Association of Realtors:

“The U.S. housing market is missing about 320,000 home listings valued up to $256,000, the affordable price range for middle-income buyers (households earning up to $75,000).

Middle-income buyers can afford to buy less than a quarter (23%) of listings in the current market. Five years ago, this income group could afford to buy half of all available homes.

Among the 100 largest metro areas, El Paso, Texas; Boise, Idaho; and Spokane, Wash. have the fewest affordable homes available for middle-income buyers. Conversely, three Ohio metro areas – Youngstown, Akron, and Toledo – have the most.”

There are some programs that help make home-buying more affordable. Ask your lender about Down Payment Assitance programs or visit the downpayment assistance site.

There are first-time homebuyer programs, and first-generation home buyer programs too.

Also, check out the Home Ownership Center.  Did you know that there are resources for people who can not pay interest for religious reasons?  Go to Alternative Homebuyer Financing options.

If. you would like to buy a Boston condo for sale,  but not ready financially now, this is the time to get ready to buy in 2024 and beyond.


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Updated: 2023

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