After a reprieve in the first quarter of 2023, buyers’ outlook for housing affordability turned bleaker again in the second quarter. According to the latest Housing Trends Report, 76% of
Solid nominal wage gains (unadjusted for inflation) combined with lower mortgage rates and home prices helped to boost housing affordability in the first quarter of 2023, but ongoing building material
An earlier post revealed that 71% of buyers who were actively engaged in the process of finding a home in the first quarter of 2023 have spent 3+ months searching
As described in a previous post, NAHB’s recently released its 2023 Priced-Out Estimates, show that 96.5 million households are not able to afford a median priced new home, and that
New NAHB 2023 Priced-Out Estimates show that 96.5 million households are not able to afford a median priced new home, and that additional 140,436 households would be priced out of
NAHB recently released its 2023 priced out estimates, showing how higher prices and interest rates affect housing affordability. The new estimates show that 96.5 million households are already not able
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