The salary you need to buy a home

The salary you need to buy a home.

USA – Home prices across the United States have continued to rise, with 93% of metros showing sales-price gains, according to the latest quarterly report from the National Association of Realtors.

Despite a strong economy, home buying affordability has decreased year-over-year due to a rise in mortgage rates and home prices.

Categories:

Buyers in the San Francisco and San Jose metro areas must earn over $200,000 a year to qualify for a mortgage with 20% down.

he United States economy may be doing great, but middle-class homebuyers are still struggling.

Home prices across the US continued to rise in the third quarter of 2018 – 93% of metros had sales-price gains, according to the latest quarterly report from the National Association of Realtors (NAR).

In addition, the supply of available midpriced homes remains low and mortgage rates went up last quarter, further stifling long-term affordability for middle-class homebuyers, said NAR’s chief economist Lawrence Yun in a press release.

Whether you want to sell your residential property or buy a new real estate investment, a house or an apartment, your private Property Angel is here to help you find your dream home.

Property Angels – Attorney Realtor Partner

California is a particularly difficult market. The state is home to four of the top five most expensive housing markets in the country and in the San Francisco and San Jose metro areas, buyers must earn over $200,000 to qualify for a mortgage with 20% down, according to NAR data. It’s no wonder Californians are fleeing to cheaper cities like Boise.

Each quarter, NAR calculates qualifying income requirements for all US metropolitan-statistical areas assuming the buyer puts 25% of gross income toward the mortgage principal and interest. The calculations are done for 5%, 10%, and 20% down payments at a 3.9% interest rate. Metro areas are based on the US Census definitions.

Below, we’ve pulled the qualifying annual income amounts for the 25 largest metros by population, ranked from lowest to highest qualifying income. Detroit and Pittsburgh are not included because of insufficient data.

Author – Tanza Loudenback

Original Publisher – Business Insider

Did you know? Your Property Angel offers you an all inclusive service whereby you will receive legal advice, sales and purchase solutions as well as the entire transfer process.

Get your real estate selling or buying process going on the right track today. Your Property Angel will then call you back either the same day or the next business day.

Simply complete the basic online form so that your Property Angel can call you for a brief chat.

Your Property Angel will highlight all the benefits and then you will fully understand why Property Angels is the smartest way for you to sell or buy your next residential property.

Property Angels is an online property portal that promotes residential property for sale across South Africa. You can buy, sell, list and find South African properties online. Find houses for sale in Johannesburg, Cape Town and Durban which are the three biggest cities in South Africa.

At Property Angels we will help you sell or buy your next house or home so that you can move on quickly and affordably.

Traditional Estate Agents do offer good service but you want so much more when it comes to selling or buying your next home.

Some of the top property companies online in South Africa include Private Property, Property 24, My Property, Property Fox, PropertyCoZa, Remax, Pam Golding, LeadHome, SA Hometraders, Gumtree and Property Angels.

Whilst most online property brands offer online visibility for Estate Agents South Africa, Property Angels offers online visibility for Attorney Realtor Agents South Africa.

Whether you have a property for sale or you are seeking a house to buy in the southern suburbs, Northern Suburbs, Eastern suburbs or Western suburbs, choose Property Angels as your attorney realtor property website in South Africa. Sell your property online through Property Angels.

Your dedicated Attorney Realtor will call you back today or the next business day.

Whether South Africa is in a buyer’s market or in a seller’s market, contact Property Angels today for quick and efficient online and face to face service.

List your house for sale with Property Angels. You can also find property to view, property selling tips and many other useful property and finance blog articles and property products bespoke to your needs. Buy and sell your private residential property through Property Angels. Allow Property Angels to become your chosen property website portal for your choice of homes to sell and homes to buy.