Summer often brings transitions. In between school years, families relocate, or consider looking for a different house. First-time buyers hit the streets, too. If you’re among those dipping your toe in the market, you might be noticing how frustrating it is: There’s a housing shortage.
Home prices have increased by 40% in the last four years, according to the National Association of Realtors, but incomes are up only 10% over the same period. That means it’s hard for many people to find the home of their dreams in their price ranges.