Record home prices can’t hide a surprising affordability gain
Regional results underscored that unevenness. The well-supplied West led all four regions with an 8.9% year-over-year affordability gain, followed by the South at 8.3% and the inventory-constrained Midwest at 6.2%. The Northeast was the exception, where home prices rose 3.9% against regional wage growth of just 3.2%, producing the smallest improvement nationally. For brokers qualifying…