The U.S. housing market could become significantly more affordable over the next five years, but first-time buyers may still struggle to find homes within their budgets as the supply of starter-priced properties continues to shrink, according to two new reports.
A new analysis from Redfin found that housing costs could return to what the brokerage considers normal levels by 2031 if mortgage rates decline to 6% and annual home-price growth remains around 2.1%.
