Tag Archive for ‘housing opportunity index’

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 ›

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 ›

Los Angeles Takes Top Spot as Nation’s Least Affordable Housing Market

San Francisco, which has been the nation’s least affordable major housing market for the past two years, was supplanted by Los Angeles in the fourth quarter of 2019, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunity Index (HOI). In all, 63.2 percent of new and existing homes sold between the beginning of October and end of… Read More ›

Fixed-Rate Mortgage Activity Shows Upswing

The Mortgage Bankers Association’s Weekly Application Survey, for the week ending November 8, 2019, showed a 5% increase in its Purchase Index and 13% increase in its Refinance Index from a week earlier on a seasonally adjusted basis. This increase occurred despite the slight increase in the 30-year fixed mortgage rate to 4.03%, thus reflecting growing optimism concerning the economy… 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 ›