Tag: affordability

Building Costs Skyrocket Over the Past 12 Months

Filed in Advocacy, Housing Affordability, Material Costs by on June 4, 2021
Building Costs Skyrocket Over the Past 12 Months

Building material costs have soared 26.1% on average over the past 12 months, according to a recent survey of single-family builders asking how much costs have increased for the same house over the last year.

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Housing Affordability Shows Signs of Weakening as Challenges Lie Ahead

Filed in Economics, Housing Affordability by on May 6, 2021 10 Comments
Housing Affordability Shows Signs of Weakening as Challenges Lie Ahead

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.

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Recent Rise in Interest Rates Has Priced Out More Than 1.3 Million Households

Filed in Economics, Housing Affordability, Trends by on March 23, 2021 3 Comments
Recent Rise in Interest Rates Has Priced Out More Than 1.3 Million Households

The recent rise in mortgage interest rates during the past two months has priced more than 1.3 million households out of the market for a median priced home, according to analysis by NAHB.

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Housing Affordability Explained in One Pyramid

Filed in Economics, Housing Affordability, Trends by on March 10, 2021 8 Comments
Housing Affordability Explained in One Pyramid

NAHB economists calculated how many households have enough income to afford a home at various price thresholds, according to conventional underwriting standards. The housing affordability pyramid reveals that 56.5 million households out of a total of 122.9 million are unable to afford a $250,000 home.

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Some Buyers Perceive an Uptick in Affordability

Filed in Economics, Housing Affordability, Trends by on November 10, 2020 1 Comment
Some Buyers Perceive an Uptick in Affordability

The Housing Trends Report for the third quarter of 2020 shows that 27% of buyers report being able to afford half or more of the homes for sale in their markets. A year earlier, the share was 20%.

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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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Affordability Expectations Show Slight Improvement

Filed in Economics, Housing Affordability by on July 28, 2020 1 Comment
Affordability Expectations Show Slight Improvement

Just 24% of prospective buyers can afford at least half the homes available in their markets, according to the second quarter of 2020’s Housing Trends Report. 

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Oklahoma Governor Signs Housing Affordability Bill into Law

Oklahoma Governor Signs Housing Affordability Bill into Law

In a victory for home builders and housing affordability, Oklahoma Governor Kevin Stitt (R) has signed SB 1713 into law. The legislation will limit cities and counties from regulating purely aesthetic building design that would needlessly raise the cost of housing.

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Unaffordable Prices Hold Back Prospective Home Buyers

Filed in Economics, Housing Affordability by on May 12, 2020 0 Comments
Unaffordable Prices Hold Back Prospective Home Buyers

A recent survey of buyers who have been actively searching for a home for more than three months reveals that their biggest obstacle to closing a deal is that they can’t find a home at a price they can afford.

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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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