Housing affordability

California could soon help first-time home buyers with their down payments and mortgage costs under a proposed $1-billion program to make homeownership more financially feasible for low- and middle-income residents.

A larger share felt it was a bad time for both buying and selling, but a growing number expect price growth to slow.

The median rent in the tri-county area jumped 57% from March 2021 to March 2022, according to the latest data from realtor.com.

While housing costs continued to set records, several signs of moderation have begun to appear in the last several weeks, according to Redfin.

Recent affordability and interest rate trends led to “clear evidence” of discouragement among potential consumers in the purchase market in the first three months of 2022, according to the National Association of Home Builders.

Suburban pushback against a proposal that would have loosened regulations of new units in New York State led to its removal from the state budget.

A majority of housing experts also believe first-time homeownership should hit 2019 levels again within four years; however, a substantial number don’t expect it this decade.

While the median income rose 1% over the last year, the median price of a home rose a staggering 25%, according to the the Federal Reserve Bank of Atlanta.