Mirroring a steep rise in mortgage rates that began in the early part of 2022 and coupled with ongoing building material supply chain bottlenecks that increased construction costs, housing affordability
An earlier post revealed that 65% of buyers who were actively engaged in the process of finding a home in the fourth quarter of 2022 have spent 3+ months searching
Buyers’ outlook for housing affordability took a sharp negative turn in the final quarter of 2022, when a record high of 87% reported being able to afford fewer than 50%
Rising mortgage rates, high inflation, ongoing building material supply chain disruptions, and elevated home prices contributed to housing affordability falling – yet again – to its lowest point since the
An earlier post revealed that a record 70% of buyers who were actively engaged in the process of finding a home in the third quarter of 2022 have spent 3+
Prospective buyers in the third quarter of 2022 are more likely to have higher levels of income and education than earlier in the year. This helps explain why affordability expectations
Data from the Survey of Market Absorption of Apartments (SOMA), produced by the Census Bureau, suggest continued improvement for the multifamily sector in the first quarter of 2022 due to
Rising mortgage rates, high inflation, low existing inventory and elevated home prices contributed to housing affordability falling to its lowest point since the Great Recession in the second quarter of
An earlier post revealed that 63% of buyers who were actively engaged in the process of finding a home in the 2nd quarter of 2022 have spent 3+ months searching
The share of prospective home buyers who are actively engaged in the process to buy a home rose to 49% in the second quarter of 2022, after declining for three
For the first time since 2020, affordability expectations improved in the second quarter of 2022. After rising steadily for five straight quarters, the share of buyers who can only afford
For the first time since 2020, prospective buyers expect housing availability to improve. After falling steadily for five quarters, the share expecting the home search to get easier in the
NAHB analysis of the most recent Quarterly Sales by Price and Financing published by the U.S. Census Bureau reveals that the four-quarter moving average (MA) share of new home sales financed
Housing affordability in the first quarter of 2022 looks starkly different depending on the interest rate assumed in the calculation. The average mortgage interest rate for the quarter was 3.86%.
An earlier post revealed that 67% of buyers who were actively engaged in the process of finding a home in the 1st quarter of 2022 have spent 3+ months searching
Buyers’ expectations for housing affordability continue to sour. In the first quarter of 2022, 81% said they could afford less than half the homes for-sale in their markets – the
Buyers’ expectations of housing availability continue to worsen. At its peak in the 4th quarter of 2020, 36% expected the home search to get easier in the months ahead. After
As described in a previous post, NAHB’s recently released its 2022 Priced-Out Estimates, showing that 87.5 million households are not able to afford a median priced new home, and that