Only 16% Of Homes Listed For Sale Were Affordable In 2023

Redfin crunched the data on home affordability in 2023.

An aerial view of homes in a neighborhood.
(Image credit: Getty Images)

Looking for a home this year felt impossible, as someone trying to buy a first home

I set alerts for listings with two real estate agents at two different firms as well as, of course, on Zillow and StreetEasy. And, yes, I'll admit, on Cabin Homes (a city girl can dream...). I was looking widely for different types of homes in different locations, from city apartments to suburban ranches, and over and over again it was the same story: inventory is extremely low, and the price of homes was slow to react against risen interest rates

Subscribe to Kiplinger’s Personal Finance

Be a smarter, better informed investor.

Save up to 74%

Sign up for Kiplinger’s Free E-Newsletters

Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.

Profit and prosper with the best of expert advice - straight to your e-mail.

Sign up

To continue reading this article
please register for free

This is different from signing in to your print subscription

Why am I seeing this? Find out more here

Alexandra Svokos
Senior Digital Editor

Alexandra Svokos is the senior digital editor of Kiplinger. She holds an MBA from NYU Stern in finance and management and a BA in economics and creative writing from Columbia University. Alexandra has a decade of experience in journalism and previously served as the senior editor of digital for ABC News, where she directed daily news coverage across topics through major events of the early 2020s for the network's website, including stock market trends, the remote and return-to-work revolutions, and the national economy. Before that, she pioneered politics and election coverage for Elite Daily and went on to serve as the senior news editor for that group. 

Alexandra was recognized with an "Up & Comer" award at the 2018 Folio: Top Women in Media awards, and she was asked twice by the Nieman Journalism Lab to contribute to their annual journalism predictions feature. She has also been asked to speak on panels and give presentations on the future of media and on business and media, including by the Center for Communication and Twipe.