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Income needed to afford a median-priced home has nearly doubled since 2020, report finds
A new report on the U.S. housing sector finds that activity remains subdued through the first part of the year as high costs suppress demand.The Joint Center for Housing Studies of Harvard University released its annual "State of the Nation's Housing" report on Wednesday, which found that existing home sales remain near the lowest level in three decades that was first reached in 2023.Sales of new homes remained relatively unchanged, while rental retention rates rose and new occupancies declined. New construction starts dipped 1% over the last year, driven by a 7% decline in single-family start...2 days ago
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