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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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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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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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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In November, year-over-year nominal house price appreciation reached 21.5 percent, the sixth consecutive month it has set a new record. According to our Real House Price Index (RHPI) - which measures housing affordability based on changes in income, interest rates and nominal house prices - affordability declined 21.0 percent compared with a year ...
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The final Potential Home Sales Model report of 2021 revealed that market potential ended the year on a strong note. While the winter months are traditionally real estate’s slow season, our measure of the market potential for existing-home sales showed the housing market again broke with traditional seasonal patterns by ending the year strong. In ...
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