Rental Market Poised for Boost As Homes Become Unaffordable

Several new and recent reports indicate that sales are lagging while large swaths of existing home owners are relocating specifically to cut costs.

By Rayna Katz | December 01, 2020 at 07:29 AM

For the second consecutive month, pending home sales fell slightly in October, dipping by 1.1% according to the National Association of Realtors by 1.1%. The drop points to a growing affordability problem for home buyers, who may be witnessing rising home prices, said Lawrence Yun, NAR’s chief economist.

“The housing market is still hot, but we may be starting to see rising home prices hurting affordability,” he said.

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