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Tag Archives: Housing Affordability

Housing Affordability Up in the Wake of National Homeownership Month

Housing affordability is up nationwide due to low interest rates and home prices as National Homeownership Month begins in June, according to a recent release from the National Association of Home Builders (NAHB). The latest NAHB/Wells Fargo Housing Opportunity Index released in mid-May reports that about two-thirds of new and existing homes sold in the first quarter of 2015 were affordable to families that earned $65,800, which is the U.S. median yearly income.

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Index Shows Housing Affordability Up for Q1

The National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunity Index (HOI) released the results of their index today, noting that housing affordability nationwide received a boost for Q1 2015 due to low home prices and interest rates.

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Home Affordability Inches Up in Q4

Using home price data from CoreLogic, NAHB estimated that 62.8 percent of homes sold at the national median price in Q4 were affordable to families earning the U.S. median income of $63,900. That figure was up 1 percentage point from the third quarter.

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Housing Affordability Slips in California in Q4

California

Thirty-one percent of homebuyers living in the state were able to afford a median-priced existing single-family home last quarter, the California Association of Realtors (C.A.R.) said Thursday. While that was a slight improvement from 30 percent in Q3, it was down from a revised 32 percent in 2013's closing months, the group reported.

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Survey: Rising Rents to Continue Challenging Homeownership

Late last year, real estate firm Zillow reported that renters living in the United States paid a cumulative $441 billion in rents throughout 2014, a nearly 5 percent annual increase spurred by rising numbers of renters and climbing prices. Results from a more recent survey conducted by Zillow and Pulsenomics suggest that rent prices will continue to be a problem for the aspiring homeowner for years to come.

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Existing-Home Sales Improve 2.4% in December

The National Association of Realtors (NAR) said Friday that sales of pre-owned homes rose 2.4 percent month-over-month in December to a seasonally adjusted annual rate of 5.04 million. It was the sixth time in the past seven months in which existing-home sales topped an annual rate of 5 million.

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Report: Buying a Home Twice as Affordable as Renting

Looking at trends in incomes, home values, and rental prices in the third quarter, Zillow estimates that U.S. homeowners spend on average 15.3 percent of their income on monthly mortgage payments. For younger homebuyers, who typically make smaller down payments, that figure is only slightly higher: 17.4 percent.

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