Buyers Are Split On Affordability Concerns

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July 07, 2017

A recent survey found that 49 percent of buyers felt that homes in their communities are affordable for buyers with above average incomes, while 41 percent said that the local homes are affordable for all buyers.

According to the second quarter edition of the Housing Opportunities and Market Experience from NAR, 53 percent of buyers who make less than $50,000 a year said that homes are affordable to all buyers, compared to 30 percent of those who make $100,000 or more a year.

Some buyers said that they have considered moving to a more affordable community because of current home prices.

Nearly a third of consumers (29 percent) 34 years and under said they have considered moving to a more affordable community, compared to only 17 percent of those 45 to 54 years of age.

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