Eye On Housing
Housing affordability weakened slightly during the first quarter of 2021 as rising material costs and supply shortages, along with expected increases in mortgage rates stemming from a growing economy, are likely to exacerbate affordability challenges in the year ahead. According to the National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunity Index (HOI), 63.1 percent of new and existing homes… Read More ›
For some home buyers, housing affordability has improved. According to the Housing Trends Report for the first quarter of 2021, 35% of buyers report being able to afford half or more of the homes available for-sale in their markets. A year earlier, that share was 23%. The increase is an indication that still relatively low mortgage rates continue to have… Read More ›
Sixteen percent of American adults are considering the purchase of a home in the next 12 months, according to NAHB’s Housing Trends Report for Qtr1’21. That is six points higher than the 10% with similar plans a year earlier. The increase marks the third (and largest) year-over-year gain in the share of prospective buyers in the series history. This steady… Read More ›
Of the 15% of American adults considering a future home purchase in the final quarter of 2020, 56% have moved beyond planning and are actively trying to find one to buy, up from the comparable 43% share a year earlier. This increase marks the fourth consecutive year-over-year rise in the share of prospective buyers who have become active buyers. Several… Read More ›
Record-low mortgage rates offset record-high home prices to keep housing affordability steady in the fourth quarter of 2020, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunity Index (HOI). Though affordability rates held firm, regulatory and supply-side challenges threaten to aggravate affordability problems in the year ahead. In all, 58.3 percent of new and existing homes sold… Read More ›
For a rising share of home buyers, housing affordability is improving. According to the Housing Trends Report for the final quarter of 2020, 38% of buyers are able to afford half or more of the homes available for-sale in their markets. A year earlier, that share was 21%. The increase is an indication that historically low mortgage rates continue to… Read More ›
Buyers’ perceptions about the availability of homes in the market are showing significant improvement, according to the latest Housing Trends Report. In the final quarter of 2020, 37% of prospective buyers expect their search for a home to get easier in the months ahead, while 54% expect it will be harder or stay the same. A year earlier, far fewer… Read More ›
According to NAHB’s latest Housing Trends Report, 15% of adults were considering a home purchase in the fourth quarter of 2020, up from 11% a year earlier. Further analysis reveals a significant shift in interest for newly-built homes during this period among prospective buyers. In the final quarter of 2020, 41% of buyers were looking for a newly-built home, more than… Read More ›
According to NAHB’s latest Housing Trends Report (HTR), the share of Americans who are considering the purchase of a home in the next 12 months was 15% in the fourth quarter of 2020, four percentage points higher than a year earlier and the largest year-over-year gain in the 3+year history of this series. The gain shows the COVID-19 pandemic continues… Read More ›
According to the U.S. Census Bureau, the Annual Resident Population of the United States as of July 1, 2020 was estimated at 329.5 million, increasing by 1.2 million from the previous year. In 2020, the Census estimated a growth rate of 0.35% on a national level, making the fifth consecutive year of a decline for the population growth rate. In… Read More ›