flexiblefullpage - default
Currently Reading

Affordability Remains at 10-Year Low

Advertisement
billboard - default

Affordability Remains at 10-Year Low


February 15, 2019
Housing affordability held at roughly the same level in the fourth quarter of 2018 as the previous quarter, with a slight interest rate uptick balancing out the minimal home price drop.
Photo: Unsplash/Jean Baak

Housing affordability held at roughly the same level in the fourth quarter of 2018 as the previous quarter, with a slight interest rate uptick balancing out the minimal home price drop.

Furthermore, the new index data from the National Association of Home Builders (NAHB) reveal affordability remains near a 10-year low. Overall, 56.6 percent of new and existing homes sold in the fourth quarter were affordable for households earning the national median income $71,900, up from 56.4 percent in the third quarter of 2018. The U.S. median home price dropped $5,000 to $263,000 in Q4.

Youngstown-Warren-Boardman, Ohio-Pa. supplanted Syracuse, N.Y. as the nation’s most affordable major housing market. There, 92.7 percent of all new and existing homes sold in the fourth quarter were affordable to families earning the area’s median income of $60,100. Meanwhile, Cumberland, Md.-W.Va. was rated the nation’s most affordable smaller market, with 94.9 percent of homes sold in the fourth quarter being affordable to families earning the median income of $55,500.

Read more

Advertisement
leaderboard2 - default

Related Stories

Affordability

‘Rentvesting’ Grows in Popularity as Housing Prices Climb

72% of Millennials and Gen Z would buy property in a more affordable state from the one they live in

Townhomes

Townhome Construction Gains in Popularity as Buyers Seek Medium-Density Housing

Townhouses made up 18% of single-family housing starts during Q1 2024

Housing Markets

5 Housing Markets That Would See a Huge Increase in Homeownership if Mortgage Rates Dropped

Spokane, Wash., would experience an 11.4% increase in affordability if rates dropped to 6%

Advertisement
boombox1 -
Advertisement
native1 - default
halfpage2 -

More in Category

Home builders can maximize efficiencies gained through simplification and standardization by automating both on-site and back-office operations 

Delaware-based Schell Brothers, our 2023 Builder of the Year, brings a refreshing approach to delivering homes and measuring success with an overriding mission of happiness

NAHB Chairman's Message: In a challenging business environment for home builders, and with higher housing costs for families, the National Association of Home Builders is working to help home builders better meet the nation's housing needs

Advertisement
native2 - default
Advertisement
halfpage1 -

Create an account

By creating an account, you agree to Pro Builder's terms of service and privacy policy.


Daily Feed Newsletter

Get Pro Builder in your inbox

Each day, Pro Builder's editors assemble the latest breaking industry news, hottest trends, and most relevant research, delivered to your inbox.

Save the stories you care about

Lorem ipsum dolor sit amet lorem ipsum dolor sit amet lorem ipsum dolor sit amet.

The bookmark icon allows you to save any story to your account to read it later
Tap it once to save, and tap it again to unsave

It looks like you’re using an ad-blocker!

Pro Builder is an advertisting supported site and we noticed you have ad-blocking enabled in your browser. There are two ways you can keep reading:

Disable your ad-blocker
Disable now
Subscribe to Pro Builder
Subscribe
Already a member? Sign in
Become a Member

Subscribe to Pro Builder for unlimited access

Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.