According to First American's data, consumer house-buying power is the highest it's ever been, due in part to the drop in mortgage rates. Don't miss out on this opportunity!
First American says consumer house-buying power is highest its been in nearly two decades: In June, consumer buying power increased by 12.2% from the previous year
"Two of the three key drivers of the RHPI, household income and mortgage rates, swung in favor of increased affordability in June, said First American Chief Economist Mark Fleming. [...] 'The net effect of these dynamics? Consumer house-buying increased by $44,000 in June compared with one year ago, more than enough to overcome the 7% increase of nominal house price appreciation," Fleming said. "In fact, house-buying power is the highest it’s been since we began tracking it in 1991.'"
