For the past few years, many buyers have been sitting on the sidelines, priced out by the market squeeze. But finally, there is a little good news: Buying a home is getting more affordable.
Monthly payments are starting to come down, and the math is finally moving in the right direction.
If you have been waiting for the right moment to jump back in, this is it. Call Kim at 206-225-8325 for a free buyer consultation. Let's run the numbers and see what your new buying power looks like.
The "30% Rule" is Coming Back Within Reach
According to Zillow, housing is considered "affordable" when it takes 30% or less of your monthly income to cover the mortgage, taxes, and insurance.
For a while, we were well above that line. But now, we are trending back toward balance. It takes less of a typical household’s income to buy a home today than it did just a few years ago.
The 3 Factors Driving This Change
Why is the tide turning? It isn't just one thing—it’s a combination of three powerful trends working in your favor:
-
Mortgage Rates Have Eased: Rates are near their lowest levels in over three years, directly lowering your monthly payment.
-
Price Growth Has Cooled: We aren't seeing the scary price spikes of the past. Growth is slower and more predictable.
-
Wages Are Growing Faster Than Prices: This is the big one. As First American Chief Economist Mark Fleming notes, when your income grows faster than home prices, your buying power improves—even if rates don't drop to zero.
Curious how these national trends play out in your specific neighborhood? Call Kim for a market analysis. Real estate is hyper-local, and I can show you exactly where the best value is hiding right now.
What This Means for You Locally
Affordability is improving, but real estate is always local. A budget that works in Tacoma or Auburn might look different in Normandy Park or Lake Tapps.
You don't have to wait for a national headline to tell you it's time to buy. Opportunities are opening up right now in Puyallup, Sumner, SeaTac, Des Moines, Burien, and Bonney Lake.
As Kim Morgan Storey, the Top #1 Real Estate Agent, I can help you navigate this changing landscape. I know how to make these new affordability trends work for your wallet.
And if you need to sell your current home to take advantage of this market, Call Kim for a unique marketing plan for getting your home sold quickly and for top dollar.
The Bottom Line
Affordability won't snap back overnight, but the wind is finally at your back. If you have been waiting for a sign to get back in the game, this is it.
Proudly serving: Tacoma, Puyallup, Auburn, Sumner, SeaTac, Des Moines, Burien, Normandy Park, Lake Tapps, and Bonney Lake.
Let’s Check Your Buying Power Today. Call Kim at 206-225-8325!
Serving the Greater Seattle Area: King, Pierce & Snohomish Counties
98402, 98403, 98404, 98405, 98406, 98407, 98408, 98409, 98422, 98444, 98445, 98465, 98466, 98371, 98372, 98373, 98374, 98375, 98390, 98188, 98148, 98158, 98168, 98198, 98146, 98166, 98391, 98092
