NAHB Survey Shows Housing is Improving But Challenges Remain
Economists and analysts have looked to housing to be the next driver of economic growth. With mortgage rates resuming their downward trajectory after briefly spiking, the stage has been set for an increase in homebuying. Metrics like affordability, which are based on rates, wages, and home prices, have improved recently primarily because of lower interest rates and slightly higher wages. But the lack of inventory has driven prices up faster than wage growth, making the improvement in affordability less impactful.
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