Eye On Housing
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 ›
An earlier post revealed that 59% of buyers who were actively engaged in the process of finding a home in the second quarter of 2020 have spent upwards of 3 months searching for a home without success. Although the top reason long-time searchers haven’t pulled the trigger continues to be the inability to find an affordable home (39%), that share… Read More ›
Of the 11% of American adults considering a future home purchase in the second quarter of 2020, about half (49%) are not simply planning it, they are actively engaged in the process to find a home. That is a significantly higher share than the comparable figure a year ago (41%), which suggests that the COVID-19 crisis and its accompanying record-low… Read More ›
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 ›
According to the latest Housing Trends Report, 63% of prospective home buyers in the second quarter of 2020 expect housing availability to become harder or stay the same in the months ahead, while 25% expect it will actually be easier to find a home to buy. These results show buyers’ expectations for housing availability have improved slightly from a year… Read More ›
According to NAHB’s latest Housing Trends Report, the share of Americans who are considering the purchase of a home in the next 12 months was 11% in the second quarter of 2020, essentially flat when compared to the same quarter in 2019 (12%). In light of the COVID-19 crisis, this finding indicates that the overall propensity of Americans to want… Read More ›
As revealed in a previous post, 56% of buyers who are actively engaged in the process of finding a home have spent upwards of 3 months searching unsuccessfully. What is holding them back? 40% say they can’t find a home at a price they can afford and 32% each say they can’t find a home with the features they want… Read More ›
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 ›
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 ›
While home buyers report slightly more optimistic expectations for future housing availability (see earlier post) in the first quarter of 2020, there is no commensurate improvement in their outlook for affordability. In fact, 78% say they can afford fewer than half the homes available in their markets, the same share as a year earlier. This in turn means that only… Read More ›