Those looking to purchase a home can feel a slight bit of relief, according to Redfin, which report that homebuyers need to earn less to afford a "typical" US home than in recent months.

In October, Redfin said buyers needed to earn a record $121,000—51% more than the median household income. As of February, they need only $114,000 — still 35% more than the typical household makes.

The median household income is $84,072.

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