Correlation Between Household Income and House Prices
You may have heard that right now is a seller's market in the housing market.
Although, many sellers are able to sell their houses for a good profit, there is a
discrepancy between the prices of the houses that are being sold and the average household
income. Many houses are being sold at 6 to 7 times the rate of the average household income.
It is fair to say that it is very a competitive market right now.