Tag Archive for ‘housing affordability’

Buyers Feeling Grim About Housing Affordability

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 highest share since before the pandemic.  At its lowest point in the 4th quarter of 2020, 63% of buyers expected to afford <50% of the homes available.  On the other… Read More ›

Soaring Construction Costs Drop Housing Affordability to Lowest Level in a Decade

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 the months ahead (as the Federal Reserve moves to tighten interest rates) along with ongoing production challenges threaten to drive housing affordability even lower in 2022. According to the National… Read More ›

Once Again, High Home Prices Are to Blame

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 for a home without success. The inability to find a home they could afford once again became the most common reason (41%) these long-time searchers could not buy a home. … Read More ›

Housing Affordability Holds Steady but Supply-Side Challenges Persist

Housing affordability held steady at its lowest level in nearly a decade, as higher home prices offset lower mortgage rates to keep the affordability rate flat in the third quarter of 2021.  In the months ahead, however, supply-chain disruptions and the prospect of higher interest rates will continue to threaten housing affordability. According to the National Association of Home Builders… Read More ›

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