Gas Prices Are Quietly Reshaping Homebuyer Affordability

Rising gas prices are creating another affordability challenge for homebuyers already grappling with elevated mortgage rates and higher monthly housing costs.New data from Rocket Money shows the average user spent 29% more on gas in early May than before the Iran conflict began in late February, while overall household spending increased just 2.9% during the same period. The findings suggest consumers are reallocating more of their budgets toward fuel and other essentials rather than expanding overall spending.