More homes are for sale, but fewer are affordable

Diana Olick | @DianaOlick

Published 10:58 AM ET Wed, 23 Jan 2019  Updated 2:05 PM ET Wed, 23 Jan 2019

• After falling to record lows, the supply of homes on the market is finally rising. But a growing share of those homes are still out of reach to most buyers.
• In Seattle, 58 percent of homes were considered affordable in 2017, but that share dropped to 46 percent last year, according to Redfin, a real estate brokerage, even as the number of homes for sale increased by 4 percent.
• Homebuilders have been faced with higher costs for land, labor and materials, and most blame those for their focus on move-up, rather than starter homes.

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