Eye On Housing
Modest home price and interest rate decreases resulted in a slight increase in nationwide housing affordability in the fourth quarter of 2015, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI). In all, 63.3 percent of new and existing homes sold between the beginning of October and end of December were affordable to families earning the… Read More ›
Firming home prices in many housing markets resulted in a modest drop in nationwide housing affordability in the second quarter of 2015, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI). In all, 63.2 percent of new and existing homes sold between the beginning of April and end of June were affordable to families earning the… Read More ›
Lower interest rates and home prices contributed to a solid boost in nationwide affordability in the first quarter of 2015, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI). In all, 66.5 percent of new and existing homes sold between the beginning of January and end of March were affordable to families earning the U.S. median… Read More ›
Slightly lower interest rates and home prices in markets across the country contributed to a slight increase in nationwide housing affordability in the fourth quarter of 2014, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI). In all, 62.8 percent of new and existing homes sold between the beginning of October and end of December were… Read More ›
Firming home prices in markets across the country contributed to a slight dip in nationwide housing affordability in the third quarter of 2014, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI). In all, 61.8 percent of new and existing homes sold between the beginning of July and the end of September were affordable to families… Read More ›
With the release of the 2014 Priced Out estimates, NAHB Economics revised its affordability pyramid that translates U.S. household income data into a distribution of homes that households can afford by price range. At the base of the market for housing is a large number of households with relatively modest incomes. The homes that these households can afford are also relatively… Read More ›
NAHB Economics recently released its 2014 Priced Out Estimates showing that, nationally, a $1,000 increase in the median new home price (triggered, for example, by additional regulation) prices 206,269 households out of the market for the home. This means that 206,269 U.S. households could qualify for a mortgage on the median-priced new home before, but not after, the price increase…. Read More ›
According to Freddie Mac, the average interest rate on a 30-year fixed rate mortgage rose by 8 basis points over the week to 4.39%. Since the beginning of the year, mortgage rates have risen by about 1 percentage point and are now at a level last seen in August 2011. The rapid rise in mortgage interest rates could affect housing… Read More ›
Exceptionally low interest rates helped ensure a slight gain in nationwide housing affordability amid relatively stable house prices in the final quarter of 2012. The NAHB/Wells Fargo Housing Opportunity Index (HOI) rose to 74.9 percent, up from 74.1 percent in the third quarter. The HOI is the share of new and existing homes sold in a quarter affordable to a… Read More ›
Lower interest rates helped make homes more affordable to median-income families even as house prices continued to inch up in metro areas across the country in the third quarter of 2012. The NAHB/Wells Fargo Housing Opportunity Index (HOI) rose to 74.1 in the third quarter, up slightly from 73.8 in the previous quarter. The HOI is the share of new… Read More ›