Housing affordability hits an 11 year high.

According to a report released this morning from the real estate company Redfin, this year was the least affordable year for homebuying in at least the past 11 years. Someone making the median income in the U.S., $78,642 would have spent more than 40% of their gross income if they bought a home for $400,000. What does this mean for the real estate market next year?

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