Key Points: Housing affordability improved 7 percent annually in April as slower house price appreciation boosted consumer house-buying power. Months' supply of existing homes increased from 3.5 months in April 2024 to 4.4 months in April 2026, helping slow annual nominal house price growth from approximately 6 percent to nearly zero. Generally, ... Read More ›

Key Points: Housing affordability improved 7.8 percent annually in March, marking the sixth consecutive month of annual affordability gains. Mortgage rates increased from 6.05 percent in February to 6.18 percent in March and moved even higher in April and May, reducing some of the affordability momentum entering the spring housing market. ... Read More ›

Key Points: Housing affordability improved 11 percent year over year in February, with all top 100 markets posting gains for the first time since October 2024. In today’s dollars, homes are more affordable now than they were in the early 1980s because house-buying power is greater today due to lower mortgage rates and higher income levels. ... Read More ›

Key Points: Affordability improved nearly 11 percent year over year in January, reaching its highest level since August 2022. Income growth has outpaced house price growth for 19 straight months, boosting house-buying power even as mortgage rates remain elevated. Markets with declining home prices had the largest affordability gains, while areas ... Read More ›

Key Points: Affordability jumped nearly 9 percent year over year in December, the 10th consecutive annual gain. Affordability improved on an annual basis in all 50 states and in 48 of the top 50 markets. Markets with inventory at, or above, pre-pandemic levels tend to have the strongest affordability gains. Affordability ended 2025 on its ... Read More ›

Key Points: Income gains and lower mortgage rates boosted house-buying power by roughly $36,600 year-over-year in November. Nominal price growth has slowed to near-zero, and 47 of 50 major metros posted affordability improvements. Inventory is the decisive wild card — if inventory levels don’t deteriorate dramatically, house price growth will ... Read More ›