Items Tagged with 'Housing Affordability Index'

ARTICLES

  • Affordability Drives Potential Buyers to Market

    Low prices and high affordability both urge consumers back to the housing market, according to Realtor.com’s national homeownership survey. Nearly two-thirds – 65.2% -- of potential homebuyers surveyed named increased affordability as a motivator them to purchase a home. Foreclosure bargains in their communities are the motivating factor for 19.6% of potential buyers surveyed.
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  • Pending Home Sales up in Fourth Consecutive Month

    Pending home sales rose again in May, marking the fourth consecutive month of increase and the longest stretch of monthly gains since late 2004. The National Association of Realtors' (NAR) Pending Home Sale Index measures the volume of contracts signed in May as an indicator of home sales in coming months. This index rose 10 bps since April and is 6.7% higher than in May 2008.
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  • Builder Sentiment High on Affordability

    Home builder confidence in May rose to the highest level since September 08 as inventory declined and affordability increased, according to survey results released today by the National Association of Home Builders (NAHB). “Builders are responding to what they perceive to be some of the best home buying conditions of a lifetime,” NAHB chairman Joe Robson, a home builder from Tulsa, OK, says in a statement today.
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  • Affordability Improves in California

    Housing affordability among first-time Californian home buyers in Q109 improved more than 20 percentage points from the year-ago period, according to survey results released Thursday by the California Association of Realtors (CAR). The data suggest the potential for a significant increase in first-time buyer presence on the market, although it's unclear how many of these households will actually participate. The increased housing affordability indicates substantially lower home prices, likely affected by foreclosure sales in the state.
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  • Buyers Enter Market, Payoffs Not Yet Seen

    Pending home sales climbed in March with many first-time buyers taking advantage of sharply discounted prices and low interest rates, according to the National Association of Realtors. The pending home sales index, a forward-looking indicator based on contracts signed in March, increased 3.2% month-over-month to 84.6 and sits 1.1% higher than March 2008.
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