Sentences with phrase «record affordability levels»
And that's left the middle class out in the cold, enticed by record affordability levels but unable to qualify for a loan.
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In its annual year - end report, CREA states: «Transactions in B.C. and Ontario are anticipated to remain strong but fall short of this year's record levels due to deteriorating affordability, an ongoing shortage of affordably priced listings for single family homes and tightened mortgage regulations.»
It's true that affordability is at record levels today, but many buyers need help putting price into perspective.
Mixed with the low inventory, the job market has been improving and buyers are being lured to the record level of affordability in the housing market.
Small wonder: Housing affordability is at its highest level since we started keeping records in 1970, and interest rates are at significant lows.
WASHINGTON, D.C. — The ability of the typical American family to buy a median - priced existing home improved during the third quarter, contributing to this year's record level of home sales, according to NAR's composite Housing Affordability Index.
Among those pluses: record - low fixed interest rates for mortgages and the highest affordability levels since record - keeping began in the 1970s.
«Following the biggest quarterly improvements on record in the first quarter and continued improvement in the second quarter, the national home affordability level has been restored to pre-housing boom levels,» says Robert Hogue, senior economist, RBC.
Home affordability is at 1971 levels, due to falling home prices and record low mortgage rates, pushing home ownership in reach to more families, according to the U.S. Department of Housing and Urban Development (HUD).
While home buyer affordability is at record levels and mortgage rates are at historical lows, households are still putting off major purchases like buying a home, according to the report.