Income needed to buy a home falls 4%

The housing market continues to favor buyers, forcing prices to slide and affordability to improve, according to a new report from Redfin.

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Americans needed to earn $111,252 per year to afford the average home for sale in December, down 4% from $115,870 a year ago and 8.8% from a peak of $122,000 in June, the report showed. 

The income needed to afford a home had been rising on…