First-Time Buyers Catch a Break As Affordability For U.S. Starter Homes Improves Slightly Faster Than Overall Market

Starter-home affordability is improving: The income needed to afford a typical U.S. starter home is down 1.5% from a year ago, marking eight straight months of declines as price growth cools. Affordability for entry-level homes is improving more than the overall market: The income needed to buy the typical U.S.