Housing

Housing affordability expected to improve with stable mortgage rates

Housing affordability may continue to hinge on whether or not interest rates fall, according to Tina Tamboer, housing analyst with the Cromford Report.

Independent Newsmedia/Brent Ruffner

Housing affordability may continue to hinge on whether or not interest rates fall, according to Tina Tamboer, housing analyst with the Cromford Report.

But it’s tough to get an accurate read with old data continuing to be used to measure affordability, Tamboer said.

During fourth-quarter 2023, only 21% of listed homes in the Phoenix area were affordable to those making a median household income of $99,000 per year, Tamboer said.

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Housing affordability expected to improve with stable mortgage rates

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