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- Buying your first home has become even less affordable, Redfin said.
- Buyers now need to make at least $64,500 a year to afford a starter home, up 13% in 12 months.
- Many on lower budgets can no longer stretch to even the most affordable homes, per Redfin.
First-time buyers are finding homes even less affordable, according to Redfin.
The real estate brokerage revealed first-time buyers must make about $64,500 a year to afford a starter home – 13% more than a year ago.