Tag Archives: Housing Affordability

Though rising mortgage rates may act as a weight on today's increased housing affordability, a report from LendingTree shows down payment percentages continue to decline.

In its most recent economic outlook, Fannie Mae's Economic and Strategic Research Group revealed expectations for the economy to continue the modest recovery and grow 2.2 percent this year.

The most recent Housing Opportunity Index (HOI) from the National Association of Home Builders (NAHB) and Wells Fargo shows home affordability slipping slightly in the first quarter. According to the index, 73.7 percent of new and existing-homes sold in the first quarter of this year were affordable to families earning the U.S. median income, a decline from 74.9 percent in Q4 2012. Despite the decrease, NAHB Chairman Rick Judson noted the HOI has still stayed high over the past four years.

The latest quarterly report from the National Association of Realtors (NAR) shows home purchasing power remained high in the first quarter even as median prices continued their upward trend. Nationally, the median existing single-family home price was $176,600, up 11.3 percent year-over-year--the strongest yearly price increase since the fourth quarter of 2005, when the national median price jumped 13.6 percent over the prior year.

When it comes to the hotly debated mortgage interest tax deduction, Maryland takes the top spot in terms of claim rate.

Even as prices continued to rise in last year's fourth quarter, American homeowners found themselves paying less in monthly mortgage payments compared to pre-bubble norms.

The National Association of Home Builders (NAHB) wants people to know they may not be saving money by purchasing older homes. NAHB compared the cost of owning a home built before 1960 to the cost of homes built since 2008 and found that after taxes, the total cost of owning a home in its first year is about 23 percent more for an equally-priced older home.

Veros' future home price index (HPI) forecast projects significant strengthening and improvement across most markets.

ZipRealty analyzed two years' worth of multiple listing service data and Census Bureau information to come up with a list of the top 10 most affordable housing markets of 2013. The coveted title of "Most Affordable Market of 2013" goes to the Dallas-Fort Worth area, where the median sales price is 5.27 times the median household income. Meanwhile, metros located on or close to the coasts make up the list of least affordable areas. Washington, D.C., takes the top spot, with the average median price costing 16.78 times the average household income.

House prices increased 9.7 percent year-over-year in January, continuing a recent trend, and prices show "no signs of an imminent slowdown," according to Capital Economics.