Tag Archive for ‘hoi’

Home Prices Continue to Increase in October

S&P Dow Jones Indices reported that the Case-Shiller U.S. National Home Price Index, which uses prices of existing homes, rose at a seasonally adjusted annual growth rate of 8.4% in October, slightly slower than the 8.5% increase in September. The September increase was revised down from its original estimate of 9.0%. Meanwhile, the Home Price Index, released by the Federal Housing… 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 Holds Steady in Fourth Quarter

Slightly lower median home prices along with a small uptick in mortgage rates contributed to housing affordability holding steady in the fourth quarter, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI). In all, 64.7 percent of new and existing homes sold between the beginning of October and end of December were affordable to families earning… Read More ›

Housing Affordability Continues to Slide in Third Quarter

Strengthening house prices and increased interest rates in metros across the country contributed to lower housing affordability in the third quarter, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI). In all, 64.5 percent of new and existing homes sold between the beginning of July and end of September were affordable to families earning the U.S…. Read More ›

Rising Home Values Affect Affordability in Second Quarter

Nationwide housing affordability slipped slightly as recovering markets witnessed significant firming of home prices in the second quarter, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI). In all, 69.3 percent of new and existing homes sold between the beginning of April and end of June were affordable to families earning the U.S. median income of… 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 ›