A 'double trouble' is brewing in the housing market.
A new report from the National Association of Realtors confirms just how pinched the Bay AreaThe report, published Monday, notes that there’s a “double trouble” brewing in the housing market nationwide. Not only are homes becoming more unaffordable; the inventory of housing up for sale is at “a historic low,” too.
“Higher incomes together with lower mortgage rates helped make homes more affordable in these areas,” she said. “But even though some buyers can afford a greater share of homes, fewer options exist as a result of the record-low inventory.” In San Jose, there is one affordable home for every 3,528 households making between $75,000 to $100,000.
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