Affordability conditions also have been largely unchanged over the past six months, but that may be reversing.
While housing affordability has eased some, it remains a big sticking point for homebuyers, according to Morgan Stanley analysts.
That marks the slowest pace of affordability deterioration since December 2021 and is more in line with previous periods. Affordability conditions also have been largely unchanged over the past six months, the note said. Still, the recent run-up in mortgage rates in the last month has reversed those fortunes.in more than two decades.
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