Tagged : affordable

Found 2 blog entries tagged as "affordable".

msn.com - Tired of renting? It could be a great time to buy your first home. In many cities, home prices have bottomed and rents have risen. Mortgage rates are still super low. In fact, homes haven't been as affordable since 1971. On the downside, buyers in many cities have fewer homes from which to choose and more competition for the best houses.

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NEW YORK (CNNMoney) -- Renting used to be cheaper than buying. But in many U.S. cities that's no longer the case, as rents continue to climb and home prices stagnate.

While asking prices for homes declined 0.7% over the past 12 months through March, rents rose 5%, according to a report released Thursday by real estate listing site Trulia.

The median rent for all types of rental homes hit $1,350 a month in March, up from a median of $1,285 a month 12 months ago, Trulia reported.

 

"Buying a home is more affordable than renting now in almost every part of the United States," said Jed Kolko, chief economist for Trulia.

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