Buying a multi-generational home can be a smart way to tackle some of today’s affordability challenges.

When it comes to buying a home, especially with today’s affordability challenges, you’ll want to be strategic. 

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The National Association of Realtors (NAR) will release its latest Existing Home Sales (EHS) report later this week. This monthly report provides information on the sales volume and price trend for previously owned homes.

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Some Highlights: With so few homes on the market right now, widening the scope of your search to include nearby areas could help you find more options in your budget.

Housing affordability is influenced by several factors, such as yearly income, home value, supply and demand, mortgage rates, and labor market.