RISMedia
Home values in housing markets the nation over continue to heighten—but while homeowners are cheering the gain in equity, some homebuyers’ hopes, especially in large locations, are being hosed down.
“Homes have gotten so expensive in many major cities that even with low mortgage rates, monthly costs for homes that are currently for sale are starting to be unaffordable,” says Dr. Svenja Gudell, chief economist at Zillow. “Down payments are a top concern for today’s homebuyers, but the reality is that monthly costs are becoming unaffordable, as well.”
