Tag: HOI

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

Filed in Economics, Trends by on November 5, 2020 1 Comment
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 NAHB/Wells Fargo Housing Opportunity Index (HOI) released today.

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Housing Affordability Hits 18-Month Low on Lack of Supply, Higher Prices

Filed in Economics, Housing Affordability by on August 6, 2020 1 Comment
Housing Affordability Hits 18-Month Low on Lack of Supply, Higher Prices

Despite low interest rates, a supply shortage coupled with rising home prices contributed to a decline in housing affordability in the second quarter of 2020, according to the NAHB/Wells Fargo Housing Opportunity Index (HOI) released today. 

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Housing Affordability Down Due to Economic Losses Stemming from COVID-19 Pandemic

Filed in Economics, Housing Affordability by on May 7, 2020 0 Comments
Housing Affordability Down Due to Economic Losses Stemming from COVID-19 Pandemic

Surging job losses in March stemming from the COVID-19 pandemic contributed to a decline in U.S. median income and housing affordability in the first quarter of 2020, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunity Index (HOI) released today.

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Los Angeles Takes Top Spot as Nation’s Least Affordable Housing Market

Filed in Economics, Housing Affordability by on February 13, 2020 0 Comments
Los Angeles Takes Top Spot as Nation’s Least Affordable Housing Market

San Francisco, which has been the nation’s least affordable major housing market for the past two years, was supplanted by Los Angeles in the fourth quarter of 2019, according to the NAHB/Wells Fargo Housing Opportunity Index (HOI) released today.

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Housing Affordability Holds Steady on a Year-Over-Year Basis

Filed in Economics by on May 9, 2019 0 Comments
Housing Affordability Holds Steady on a Year-Over-Year Basis

Lower home prices, declining mortgage rates and solid income gains contributed to a rise in housing affordability in the first quarter of 2019. However, affordability is roughly the same as it was a year ago.

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Housing Affordability Holds Steady at a 10-Year Low in the 4th Quarter

Filed in Economics by on February 14, 2019 3 Comments
Housing Affordability Holds Steady at a 10-Year Low in the 4th Quarter

A modest increase in interest rates offset a slight decline in home prices to keep housing affordability essentially level in the fourth quarter of 2018 and still hovering at a 10-year low, according to the NAHB/Wells Fargo Housing Opportunity Index released today.

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Housing Affordability Edges Lower in the Third Quarter

Filed in Economics by on November 8, 2018 0 Comments
Housing Affordability Edges Lower in the Third Quarter

A modest increase in interest rates and home prices kept housing affordability at a 10-year low in the third quarter of 2018, according to the NAHB/Wells Fargo Housing Opportunity Index (HOI) released today.

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Housing Affordability Hits 10-Year Low in 2nd Quarter

Filed in Economics by on August 9, 2018 1 Comment
Housing Affordability Hits 10-Year Low in 2nd Quarter

Only 57.1% of new and existing homes sold between the beginning of April and end of June were affordable to families earning the U.S. median income of $71,900. Housing affordability is at its lowest reading since mid-2008.

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Rising Incomes Boost Housing Affordability in 1st Quarter

Filed in Economics by on May 10, 2018 1 Comment
Rising Incomes Boost Housing Affordability in 1st Quarter

Strong wage growth more than offset an increase in mortgage interest rates to boost nationwide housing affordability in the first quarter of 2018, according to the NAHB/Wells Fargo Housing Opportunity Index released today. Youngstown-Warren-Boardman, Ohio-Pa., was the nation’s most affordable major housing market. There, 90.9% of all new and existing homes sold were affordable to families earning the area’s median income of $60,100.

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Housing Affordability Remains Flat in 2017

Filed in Economics by on February 8, 2018 0 Comments
Housing Affordability Remains Flat in 2017

Less than 60% of homes sold between the beginning of October and end of December 2017 were affordable to families earning the U.S. median income of $68,000.

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