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
NAHB recently released its 2022 priced out estimates, showing how higher prices and interest rates affect housing affordability. The new estimates show that 87.5 million households (roughly 69 percent of
Supply-chain bottlenecks that put upward pressure on home prices along with rising interest rates contributed to housing affordability falling to a 10-year low. The likelihood of higher interest rates in
An earlier post revealed that 67% of buyers who were actively engaged in the process of finding a home in the final quarter of 2021 have spent 3+ months searching