Median African-American Household Can Only Afford 25 Percent of For-Sale Homes

▤ Summary

Only 25 percent of homes that were up for sale in 2018 were affordable to the median African-American household, according to new data from Redfin . Furthermore, Redfin determined that at least half the homes in any metro areas were unaffordable to typical African-American families. "Home prices have risen 70 percent since the beginning of the housing crash recovery in 2012," said Redfin Chief Economist Daryl Fairweather. "African-Americans, who were disproportionately affected by the housing crash in 2008 have found it much harder to get back into homeownership, especially as prices skyrocketed out of budget. With shortages of affordable homes, the future doesnt bode well for African Americans who aspire to be homeowners.

▦ Linked Companies