If there was one word to succinctly describe the world of housing at the moment, what would it be—unaffordable, maybe? That’s what it seems to be for Redfin senior economist Chen Zhao, who earlier this week said: “Unaffordability is really the story in the housing market right now.”
In an interview with CNBC, Zhao touched on recently released data, which found that home prices rose 6.5% in March compared to a year earlier; and Redfin’s own data, which found they rose 7.3% in April from the prior year.
