Roberto Schmidt | AFP | Getty ImagesIt's no secret that the housing market looks far different than it did a few years ago.
While surging mortgage rates and housing prices have taken away consumers' purchasing power, low supply has kept the market competitive.
A higher rate, in reality, results in more interest due on a home loan.
Housing prices are also central to the equation for everyday Americans decision how much, or if, they can afford to spend.
One from the National Association of Realtors found affordability tumbled more than 33% between 2021 and 2023 alone.
Persons:
Roberto Schmidt, it's, Dow
Organizations:
AFP, Getty, Dow Jones, National Association of Realtors, Atlanta Federal, Atlanta Fed
Locations:
Clarksburg , Maryland