Eye On Housing
Ongoing home price appreciation offset a small decline in mortgage interest rates to move housing affordability slightly lower in the third quarter of 2016, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI). In all, 61.4 percent of new and existing homes sold between the beginning of July and end of September were affordable to families… Read More ›
Solid home price appreciation more than offset a modest reduction in mortgage interest rates to push housing affordability lower in the second quarter of 2016, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI). In all, 62 percent of new and existing homes sold between the beginning of April and end of June were affordable to… Read More ›
NAHB Economics estimates that 14 million American households are priced out of the market for a new home by government regulations that, on average, increase the new home price by 24.3%. Households become “priced out” when they no longer qualify for a new home mortgage because of higher prices. A recent NAHB study estimated that, on average, regulations imposed by… Read More ›
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 ›