Fourth-quarter sales of the most affordable homes were up 11.3% year-over-year while luxury home sales plummeted 16.3% in the same period, according to new data from Redfin Corp (NASDAQ:RDFN).
What Happened: Affordable homeownership opportunities have been elusive in many parts of the country for years, but Redfin attributed much of this new uptick in affordable homes for sale to owners putting their properties on the market as the federal government’s COVID-19 pandemic-era mortgage forbearance and foreclosure moratorium programs came to an end.
