CBS News Radio / WPHT-AM (Philadelphia, Pa.)
The report says households earnings $75,000 a year can only afford 21% of home listings.
“Even though listings are up in some areas, they’re often priced well above what most local households can afford. Iowa, Indiana, Illinois, Ohio and West Virginia are states where affordability is actually relatively healthy.” said Nadia Evangelou with the National Association of REALTORS®.
States with the biggest affordability gaps include California, Massachusetts, Hawaii, Montana and Idaho. That’s where if you earn $150,000 a year, you might not get much.
On the positive side, the National Association of REALTORS® says it’s seeing more homes come onto the market.