Is Affordability Starting To Improve?




Over the past couple of years, a lot of people have had a hard time buying a home. And while affordability is still tight, there are signs it's getting a little better and might keep improving throughout the rest of the year. Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), says:

“Housing affordability is improving ever so modestly, but it is moving in the right direction.”

Here’s a look at the latest data on the three biggest factors affecting home affordability: mortgage rates, home prices, and wages. 

1. Mortgage Rates

Mortgage rates have been volatile this year, bouncing around from the mid-6% to low 7% range. But there's some good news. Data from Freddie Mac shows…

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Just Sold: Triplex in Prime Eagle Rock

A long-time client and friend recently decided to redirect their equity from their income property located in prime Eagle Rock. I felt both honored and privileged to be chosen to guide them through this process, helping them achieve their goal of pursuing a new course of action with their equity.

????The new triplex owner, a US immigrant working in construction, spent decades renting and saving to buy their first home—and they finally did it! Felicidades, Catracho! #AmericanDream

The support of the buyer’s agent made this closing possible. A truly caring and professional person, Lisa Detamore was dedicated to helping her client.  I have to extend a big thanks to her and the hardworking loan officer, Juan…

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I'm thrilled to announce the closing of this East Hollywood jewel box!

When my client relocated, she had to decide what to do with her house: she could rent it out, forcing her to travel over an hour to handle management duties, or sell it and reposition the equity into another investment that would yield twice the estimated net rent, plus no management responsibilities or liabilities...

It was a no-brainer!

I was honored that she chose me to guide her in this repositioning process.  We faced a few hurdles along the way, but in the spirit of the Olympics, we sailed over them without breaking stride.

Working with @the_nikki_miller was a privilege. A total pro, she and her impressive lender @kellyzitlowgroup made closing effortless—you know LO is a baller…

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