Tag Archive for ‘affordability’

Housing Affordability Remains Favorable Even as it Hits an Eight-Year Low

Shortages of buildable lots and skilled labor, along with excessive regulations, rising mortgage interest rates and ongoing home price appreciation pushed housing affordability in the fourth quarter of 2016 to its lowest point since the third quarter of 2008, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI).  In all, 59.9 percent of new and existing… Read More ›

Housing Affordability Posts Second Straight Quarterly Gain

Spurred by a modest reduction in mortgage interest rates and favorable home prices, nationwide housing affordability in the first quarter of 2016 posted a slight increase, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI). In all, 65.0 percent of new and existing homes sold between the beginning of January and end of March were affordable… Read More ›

Top Posts of 2014: Affordability Pyramid Shows Housing Market is Bottom Heavy

With the end of 2014 approaching, NAHB’s Eye on Housing is reviewing the posts that attracted the most readers over the last year. In August, we published an update to our affordability pyramid. —————————– By Natalia Siniavskaia With the release of the 2014 Priced Out estimates, NAHB Economics revised its affordability pyramid that translates U.S. household income data into a distribution of homes that households… Read More ›

Affordability Approaches Pre-2004 Norm as Prices Firm

Housing affordability dipped slightly in the second quarter of 2014 as several markets saw a firming of home prices, according to the NAHB/Wells Fargo Housing Opportunity Index (HOI).  Nationwide, the second quarter HOI was 62.6—i.e., 62.6 percent of new and existing homes sold during the quarter were affordable to a family earning the U.S. median income of $63,900—down about three percentage points from the first… Read More ›

Housing Affordability Holding Strong in Early 2013

Nationwide housing affordability held near historic highs in the first quarter of 2013, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI), at 73.7 percent, down slightly from 74.9 percent in the final quarter of 2012. The HOI is the share of new and existing homes sold in a quarter affordable to a family earning the… Read More ›

Housing Affordability Hits Another All-Time High

The National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI), increased to 77.5 in the first quarter of 2012, beating the previous record of 75.9 set in the final quarter of 2011. The HOI is the percentage of homes sold during the quarter affordable to a median-income family, based on standard underwriting criteria.  An HOI of 77.7 thus means… Read More ›

HOI Indicates Affordability at All-Time High

The National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI) rose to 75.9 during the fourth quarter of 2011,  the highest number recorded in the 20-year history of the index.  The HOI is the percentage of homes sold during the quarter affordable to a median-income family, based on standard underwriting criteria.  An HOI of 75.9 means that 75.9 percent… Read More ›

Housing Affordability Near Record Levels According to NAHB/Wells Fargo Index

Nationwide housing affordability is hovering near record levels, according to the latest NAHB/Wells Fargo Housing Opportunity Index (HOI) data released this week. The HOI indicated that 72.6 percent of all new and existing homes sold in the second quarter of the year were affordable to families earning the national median income of $64,200. The affordability measure dipped slightly from the… Read More ›