10.11.21
The National Association of Realtors’ (NAR) monthly report, which compares average family income with average home sales prices and mortgage rates, showed housing affordability improved in August for the second month in a row. Although still below pre-pandemic levels (165.8 August 2020, 151.3 August 2021), with interest rates at historic lows and the steep rise in home prices beginning to moderate, the NAR reports that “a family with the median income had more than the income required to afford a median-priced home” in August.