Is Affordability Worse Than the 2006 Housing Boom Peak?
By
Mark Fleming on March 29, 2022
In the first report with 2022 data, the Real House Price Index (RHPI) jumped up by nearly 27 percent, the fastest growth in the RHPI since 2004. This rapid annual decline in affordability was driven by a 21.7 percent annual increase in nominal house prices and a 0.7 percentage point increase in the 30-year, fixed mortgage rate compared with one ...
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What is Driving Housing Market Potential as the Spring Home-Buying Season Begins?
By
Mark Fleming on March 18, 2022
Following nearly two years of a soaring housing market, the 2022 spring home-buying season will be watched closely for signs that more balance may be returning to the housing market. Our Potential Home Sales Model estimates the expected level of existing-home sales based on market fundamentals, providing a helpful tool to assess the state of the ...
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Single Women Skip the Spouse to Buy a House
By
Odeta Kushi on March 8, 2022
As we celebrate International Women’s Day and Women’s History Month, growing numbers of women, specifically single women, have become homeowners, achieving one of the main tenets of the American Dream. In the aftermath of the Great Recession, the overall homeownership rate reached a low point of 63 percent in 2016, but has since rebounded to 65.5 ...
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How the Ability to Work Remotely is Changing Housing Affordability for First-Time Home Buyers
By
Ksenia Potapov on March 2, 2022
Affordability in the U.S. fell in 2021 on a year-over-year basis, as house-buying power was unable to keep up with red-hot nominal house price growth. The decline in affordability was broad based as affordability fell in most major markets across the U.S., yet some markets remain more affordable than others for potential first-time home buyers. ...
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Homeownership First-Time Home Buyer Outlook Report Renter Affordability
Will Rising Rates Bring Balance to the Housing Market?
By
Mark Fleming on February 23, 2022
In December 2021, the Real House Price Index (RHPI) increased 21.7 percent compared with December 2020, the highest annual growth rate since 2014. The record increase was driven by rising mortgage rates and rapid nominal house price appreciation, which make up two of the three drivers of the RHPI. The 30-year, fixed-rate mortgage and the ...
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Opposing Supply-Demand Forces Hold Key to Housing Market Potential
By
Mark Fleming on February 22, 2022
While still 4 percent higher than one year ago, the market potential for existing-home sales declined to its lowest level since June 2021, according to the first Potential Home Sales Model report of 2022. Demand for homes will remain strong in 2022, but declining affordability and lack of supply may limit market potential. Potential home buyers ...
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