Home Affordability Hits Record Low!

 

 

Home Affordability Hits Record Low!

 

Home Affordability Hits Record Low in U.S. The National Association of Home Builders is reporting this week that U.S. housing affordability posted three consecutive quarterly declines in 2022 and now stands at its lowest level. According to the NAHB/Wells Fargo Housing Opportunity Index, just 38.1% of new and existing homes sold between the beginning of October and end of December were affordable to families earning the U.S. median income of $90,000.  This marks the third straight quarterly record low for housing affordability since the Great Recession While the HOI shows that the national median home price fell to $370,000 in the fourth quarter, it is still the third-highest median price in the history of the series

 

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