Tag: Housing Opportunity Index

Housing Affordability Holds Steady but Supply-Side Challenges Persist

Filed in Economics, Housing Affordability, Trends by on November 11, 2021 8 Comments
Housing Affordability Holds Steady but Supply-Side Challenges Persist

Lansing-East Lansing, Mich., is the nation’s most affordable major housing market while Los Angeles-Long Beach-Glendale, Calif., is the least affordable major housing market.

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Housing Affordability Plunges on Soaring Material Costs, Rising Home Prices

Filed in Economics, Housing Affordability, Material Costs by on August 5, 2021 4 Comments
Housing Affordability Plunges on Soaring Material Costs, Rising Home Prices

Soaring building material costs, high demand and low inventory have added tens of thousands of dollars to the price of a new home and caused housing affordability to fall to its lowest level in nearly a decade during the second quarter of 2021.

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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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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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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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Lower Mortgage Rates Push Housing Affordability to Highest Level in Three Years

Filed in Economics, Housing Affordability by on November 7, 2019 1 Comment
Lower Mortgage Rates Push Housing Affordability to Highest Level in Three Years

With mortgage rates at a three-year low and a healthy job market, housing affordability rose to its highest level in three years in the third 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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Rising Home Values Affect Affordability in 2nd Quarter

Filed in Economics by on August 13, 2015 2 Comments

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 latest NAHB/Wells Fargo Housing Opportunity Index.

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Housing Affordability Posts Solid Gain in First Quarter

Filed in Economics, Housing Finance by on May 14, 2015 0 Comments
Housing Affordability Posts Solid Gain in First Quarter

Lower interest rates and home prices contributed to a solid boost in nationwide affordability in the first quarter of 2015, according to the NAHB/Wells Fargo Housing Opportunity Index (HOI) released today. “Consumers benefitted from continued low mortgage rates and some fall in the price of homes sold in the first quarter, as these conditions offer […]

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Housing Affordability Edges Up in 4th Quarter 2014

Filed in Economics, Housing Finance by on February 19, 2015 0 Comments

Slightly lower interest rates and home prices contributed to a slight increase in nationwide housing affordability in the fourth quarter of 2014, according to the NAHB/Wells Fargo Housing Opportunity Index released today. In all, 62.8% of new and existing homes sold between the beginning of October and end of December were affordable to families earning the median income of $63,900. This is up from the 61.8% of homes sold in the third quarter.

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