What does the new normal for first-time homebuyers look like?
Housing Wire
SEPTEMBER 21, 2022
Before the pandemic, the historical average of annualized house price growth was approximately 4%. Yet, pandemic-era dynamics exacerbated an already large housing demand and supply imbalance, fueling record-breaking annual house price growth, peaking at nearly 21%. Today, as affordability wanes and housing supply ticks up, house price growth is decelerating and will likely continue to trend towards its historical average.
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