The affordability challenges homebuyers are facing are becoming more deeply entrenched, according to Black Knight‘s most recent monthly mortgage monitor report.

“In a sense, the gridlocked housing market has been feeding on itself,” Andy Walden, VP of enterprise research strategy at Black Knight, said. 

Tightening credit availability, elevated rates, inventory shortages and strengthening home prices are adding to affordability challenges, the report notes. In turn, the 100 largest U.S. markets are now less affordable than the long-term average. 

It now takes 34.2% of the median household income to make principal and details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com