Research Note | November 12, 2024

The Decline in Relative Housing Affordability and the Impact on Homebuyer Search Behavior

In this analysis, we use actual, detailed transaction data on rents, home prices, and mortgage payments for individual homes and borrowers to produce a new relative affordability measure.

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While the cost of owning compared to renting the same home has been on the increases, 2024's difference of 29% is well below the 2006 peak of 50%

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