U.S. Homes Remain Affordable Despite Sharp Price Rise
(Bloomberg) -- Despite a $50,000 jump in the median sales price of a U.S. home since the pandemic became a national emergency a year ago, affordability is holding fast. With a median price at a record $370,000, according to data from Realtor.com, servicing the debt each month on a home is just $100 more now than a year ago. The calculations assume a 20% down-payment, a 30-year loan and a mortgage rate that’s roughly 50 basis points lower than in March 2020.
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