While affordability has fallen 48 percent since December 2022, as measured by the Real House Price Index (RHPI), affordability has improved for two straight months. Nominal house price appreciation has slowed dramatically in re... Read More›
Housing Affordability Improved for Second Consecutive Month in December
Why Mortgage Rates Hold the Key to Improved Affordability in 2023
By all respects, 2022 was a tumultuous year for the housing market. Annual house price appreciation remained at a double-digit pace for most of the year, mortgage rates increased by nearly 4 percentage points in less than 12 months and, as a result, af... Read More›
House Prices Declining Fastest in Overvalued Markets
In November 2022, the Real House Price Index (RHPI) increased by 60 percent on an annual basis. This rapid annual decline in affordability was driven by two factors -- a 7.6 percent annual increase in nominal house prices and a... Read More›
Why Housing Affordability May Rebound in 2023
Affordability continued to suffer in October 2022, as the Real House Price Index (RHPI) jumped up by 68 percent on an annual basis. This rapid annual decline in affordability was driven by a 12 percent annual increase in nomina... Read More›
House Prices Decline, But Equity Buffers Remain Robust
In September 2022, the Real House Price Index (RHPI) jumped up by 60.6 percent on an annual basis. This rapid annual decline in affordability was driven by two factors – a 13.5 percent annual increase in nominal house prices an... Read More›
Pandemic Boom Markets Cooling the Fastest
Affordability continued its rapid decline in August 2022, as the Real House Price Index (RHPI) soared 49 percent on an annual basis. The ongoing and swift decline in affordability was driven by a 15 percent increase in nominal ... Read More›