According to the Real House Price Index (RHPI), which measures housing affordability in the context of changes in consumer house-buying power, affordability in September declined to its lowest level since 2008. Two of the three components of consumer house-buying power swung toward declining affordability. Record nominal house price growth and ... Read More ›

In September 2021, existing-home sales increased to a 6.29 million seasonally adjusted annualized rate (SAAR). Prior to the pandemic, the housing market had not reached this sales pace since 2006. We may see another strong month in October, as housing market potential increased 10.3 percent compared with one year ago to 6.27 million (SAAR), ... Read More ›

In the month of October, the average 30-year, fixed mortgage rate increased to its highest level since March of this year – 3.07 percent. For context, the historical average of the 30-year, fixed mortgage rate dating back half a century is 7.8 percent. In the history of recorded data on the 30-year fixed mortgage rate, it has never been as low as ... Read More ›

In August, year-over-year nominal house price appreciation reached 20.7 percent, the third consecutive month it has set a new record. According to our Real House Price Index (RHPI), which measures housing affordability in the context of changes in consumer house-buying power, incorporating changes in household income, mortgage rates and nominal ... Read More ›

Housing market potential strengthened modestly in September, increasing a 0.4 percent compared with August, according to our Potential Home Sales Model. The slight increase means that on a year-over-year basis, housing market potential is now nearly 9 percent higher than in September 2020, when the housing market’s summer rebound was accelerating, ... Read More ›

In July, housing affordability continued its decline as year-over-year nominal house price appreciation reached a record 20 percent, vastly outpacing the increase in house-buying power compared with a year ago. The Real House Price Index (RHPI) measures affordability in the context of changes in consumer house-buying power, incorporating changes ... Read More ›