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 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 ›

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 ›

The Real House Price Index (RHPI) measures affordability in the context of changes in consumer house-buying power, incorporating fluctuations in household income, mortgage rates and nominal house prices. In June, housing affordability declined on a year-over-year basis for the fourth month in a row, following two years of increasing affordability. ... Read More ›

Housing affordability declined on a year-over-year basis for the third month in a row in May, following a two-year streak of rising affordability. The decline in May occurred even as two of the three key drivers of the Real House Price Index (RHPI), household income and mortgage rates, swung in favor of greater affordability relative to one year ... Read More ›

In today’s housing market, the power is very clearly in the hands of the seller. In April, First American Data & Analytics’ nominal house price index increased 16.2 percent year over year, the fastest pace since 2005. Rapid appreciation is driving declines in affordability, despite rising incomes and lower mortgage rates. Nationally, according ... Read More ›