Tag Archive for ‘housing economics’

Low Mortgage Rates & Desire for Space Continue to Convert Prospective Buyers into Active Buyers

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 ›

Housing Affordability Holds Steady; Challenges Loom

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 ›

A Significant Shift in Interest for Newly-Built Homes

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 ›

COVID-19 Continues to Impact Home Purchasing Plans

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 ›

Lack of Inventory, Higher Prices Push Housing Affordability Near Two-Year Low

Record-low mortgage rates were not enough to offset inventory shortages and rising home prices as housing affordability continued to decline in the third quarter of 2020, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunity Index (HOI). In all, 58.3 percent of new and existing homes sold between the beginning of July and end of September were… Read More ›

Share of Home Buyers Getting Outbid Almost Doubles

An earlier post revealed that 62% of buyers who were actively engaged in the process of finding a home in the third 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 (38%), that share… Read More ›