Spring homebuyers likely to grapple with affordability

Spring home-buying season is officially here, and homebuyers across the country are now projected to dominate the market. But as homeownership demand heightens, new survey data from Realtor.com suggests many prospective buyers will grapple with housing affordability. “The 2019 spring home-buying season will be characterized by rising home prices, a moderate pace of home sales, and an influx of inventory,” Realtor.com Chief Economist Danielle Hale said. “More homes on the market and lower mortgage rates will help offset some difficulties associated with price gains, but affordability will remain the primary challenge for shoppers, particularly in lower price segments.”