Walt McDonald, National Association of Realtors president and broker-owner of Walt McDonald Real Estate in Riverside, Calif., said the typical household is well poised to buy a home in most regions of the country. “The average buyer could afford to buy a home costing nearly 4.5 times their income in the second quarter. Even so, the median-income family spends just over 3.3 times their income for a home, meaning housing continues to be an excellent investment. Affordability conditions are expected to be fairly stable during the second half of the year, which will contribute to a new annual record for home sales,” he said.
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