Tight credit, high rates and low inventory add to buyers’ affordability struggles
Housing Wire
JUNE 5, 2023
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.
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