The latest quarterly report from the National Association of Home Builders finds that buyer perception on housing affordability is roughly the same from Q4 2017 to Q4 2018.
In the final quarter of 2017, 79 percent of Americans estimated that they could afford less than half of for-sale homes in their local markets. In the final quarter of 2018, the share was 76 percent. The share of Americans who think they could buy the majority of for-sale homes in their markets stands at 23 percent in the final quarter of 2018, up from 21 percent in Q4 2017.
Affordability is an issue for all age groups: 75 percent to 78 percent of buyers in each generation can afford fewer than half the homes available in their markets. The Housing Trends Report (HTR) is a research product created by the NAHB Economics team with the goal of measuring prospective home buyers’ perceptions about the availability and affordability of homes for-sale in their markets.