Why It’s More Affordable To Buy a Home This Year [INFOGRAPHIC]

<article class="post-919288 post type-post status-publish format-standard has-post-thumbnail hentry" id="post-919288"><span class="entry-date">January 26, 2024</span><div class="entry-header center-block text-center"><h1 class="entry-title">Why It’s More Affordable To Buy a Home This Year [INFOGRAPHIC]</h1><div class="shareBlock"><div class="shareTitle">Share</div><div class="shareIcons"><a aria-label="Twitter Share Link" class="twitter solid display-inline-block" data-tracking="Post,Social Post Link Clicked,Twitter" href="http://twitter.com/share?text=Why+It%E2%80%99s+More+Affordable+To+Buy+a+Home+This+Year+%5BINFOGRAPHIC%5D&amp;url=https%3A%2F%2Fgilliggroup.com%2Fblog%2Fwhy-its-more-affordable-to-buy-a-home-this-year-infographic%2F" target="_blank"><span class="force-hidden">Twitter</span></a>
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</div></div><div class="post-tax post-category"><span></span><a href="../category/realtor-blog/index.html" rel="tag">Realtor Blog</a></div><div class="post-tax post-post_tag"></div></div><div class="entry-content"><div><img alt="Why It’s More Affordable To Buy a Home This Year [INFOGRAPHIC] Simplifying The Market" decoding="async" loading="lazy" src="https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/images/20240125/202401-1.PNG" style="display: block; margin-bottom: 5px; clear: both; max-width: 100%;" width="358"/>
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<h3>Some Highlights</h3>
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<li><a href="https://www.simplifyingthemarket.com/2024/01/18/3-key-factors-affecting-home-affordability/" rel="noopener noreferrer" target="_blank">Home affordability</a> depends on three factors: mortgage rates, home prices, and wages.</li>
<li><a href="https://www.freddiemac.com/pmms/archive" rel="noopener noreferrer" target="_blank">Mortgage rates</a> are down from their recent peak, <a href="https://www.simplifyingthemarket.com/2024/01/23/experts-project-home-prices-will-increase-in-2024/" rel="noopener noreferrer" target="_blank">home prices</a> are expected to rise at a slower pace, and <a href="https://fred.stlouisfed.org/series/CES0500000017" rel="noopener noreferrer" target="_blank">wages</a> are increasing faster than usual.</li>
<li>That’s good news if you want to <a href="https://www.simplifyingthemarket.com/2024/01/19/key-terms-every-homebuyer-should-learn-infographic/" rel="noopener noreferrer" target="_blank">buy a home</a> because it means <a href="https://www.simplifyingthemarket.com/2024/01/08/what-lower-mortgage-rates-mean-for-your-purchasing-power/" rel="noopener noreferrer" target="_blank">affordability</a> is getting better.</li>
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