Continuing NAHB’s commitment to be at the forefront of research on home buyer preferences, the 2024 edition of What Home Buyers Really Want was recently released at the International Builders’
Mortgage rates that hit more than a 20-year high, coupled with elevated construction costs and excessive regulatory costs, left housing affordability in the fourth quarter of 2023 virtually unchanged from
Rising mortgage rates, elevated construction costs and limited existing inventory helped push housing affordability in the third quarter of 2023 to its lowest level in more than a decade. According
Despite mortgage rates topping 7%, Americans persist in their desire to buy a home. According to the latest Housing Trends Report*, the share of adults with plans to purchase a
Rising home prices and interest rates coupled with elevated construction costs, low existing inventory and solid demand resulted in a significant decline in housing affordability during the second quarter of
An earlier post revealed that 69% of buyers who were actively engaged in the process of finding a home in the second quarter of 2023 have spent 3+ months searching
Despite lower perceptions of affordability, the share of prospective home buyers who are actively engaged in the purchase process (i.e., have moved beyond the planning phase) remained essentially unchanged between
After a reprieve in the first quarter of 2023, buyers’ outlook for housing affordability turned bleaker again in the second quarter. According to the latest Housing Trends Report, 76% of
Increased levels of new home construction and sales are leading some buyers to expect the home search to get easier in the months ahead. According to the latest Housing Trends
Higher interest rates have led millions of existing homeowners with mortgages under 4% to postpone plans to list their homes for sale, and for many prospective buyers, that supply vacuum
Mortgage rates’ slow –but steady– march upwards combined with the return of home price gains are doing what they are predicted to: slow housing demand. According to the latest Housing
Solid nominal wage gains (unadjusted for inflation) combined with lower mortgage rates and home prices helped to boost housing affordability in the first quarter of 2023, but ongoing building material
An earlier post revealed that 71% of buyers who were actively engaged in the process of finding a home in the first quarter of 2023 have spent 3+ months searching
Improvements in affordability expectations have led to an increase in the share of prospective buyers who have moved beyond just the planning phase of their home search: 56% report being
Relatively lower interest rates (compared to fall 2022), slowing growth in home prices, and builder incentives are making an impact on buyers’ affordability expectations. In the first quarter of 2023,
After souring significantly in the final quarter of 2022, buyers’ expectations of housing availability edged up slightly in the first quarter of 2023, with 26% expecting the home search to
Interest for new home construction was essentially unchanged between the final quarter of 2022 and the first quarter of 2023, as the share of prospective buyers looking to buy a
The retreat in mortgage interest rates during the first quarter of 2023 (from the 20-year peak reached in the fall of 2022) led a record share of adults in the