Tag Archive for ‘housing affordability’

Housing Affordability Hits 18-Month Low on Lack of Supply, Higher Prices

Despite low interest rates, a supply shortage coupled with rising home prices contributed to a decline in housing affordability in the second quarter of 2020, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunity Index (HOI). In all, 59.6 percent of new and existing homes sold between the beginning of April and end of June were affordable… Read More ›

Affordability Expectations Show Slight Improvement

According to the second quarter of 2020’s Housing Trends Report, only 24% of prospective buyers can afford at least half the homes available in their markets. The other 77% are able to afford fewer than half the homes. Although these results demonstrate housing affordability remains a serious challenge, buyers’ affordability expectations are slightly more favorable than a year ago, when… Read More ›

Housing Affordability Down Due to Economic Losses Stemming from COVID-19 Pandemic

Surging job losses in March stemming from the COVID-19 pandemic contributed to a decline in housing affordability in the first quarter of 2020, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunity Index (HOI). In all, 61.3 percent of new and existing homes sold between the beginning of January and end of March were affordable to families… Read More ›

Time Spent Searching for a Home Continues to Rise

Of the 10% of American adults considering a home purchase in the first quarter of 2020, about half (49%) have moved beyond just planning and are actively engaged in the process to buy a home. This “active buyers” share was slightly higher than in the first quarters of 2018 and 2019—both 46%, and a possible sign that low interest rates… Read More ›