NAR reports national housing affordability decline in May 2023
The National Association of Realtors announced housing affordability decreased nationwide in May 2023 due to a 3.7% increase in monthly mortgage payments and a 2.8% rise in the median price of single-family homes.
NAR also found that when comparing March 2023 to March 2022, the monthly mortgage payment climbed by 9.9% while median family income rose by 4.8%. With mortgage-payment rates outpacing income increases, the average family cannot afford to purchase a median-priced home, according to the report.
The organization reports housing affordability by region includes:
- Midwest — 4.7% decline
- Northeast — 4.4% decline
- South — 3% decline
- West — 4.3% decline
Designed by Maestri Studio.Photo by Jenifer McNeil Baker and courtesy of the NAR.
‘Barbie’ movie inspires ‘Barbiecore’ interior design trend
With the “Barbie” movie hitting the box office, the iconic doll’s signature style is popping up in an interior design trend called “Barbiecore.”
According to an article by the National Association of Realtors, interior designers and home stagers are utilizing pink, frills and playful designs when working with clients.
Some examples include:
- Using wave-print wallpaper or designs to create a focal wall
- Breaking up solid colors in a room by using pink and various patterns in area rugs or throw pillows
- Utilizing unconventional furniture shapes such as curvy couch instead of a wooden bench in a dining nook
- Incorporating blush tones in paint or wallpaper as well as bedding
- Using dark pink on the ceiling in a child’s room to create a playful environment
Photo providedKimberley Dickard joined Berkshire Hathaway HomeServices C. Dan Joyner Realtors as a sales associate in the company’s Midtown Office.
She has over three decades of customer service experience.
Photo providedLee Miller joined Berkshire Hathaway HomeServices C. Dan Joyner Realtors as sales associate in the company’s Simpsonville office.
