NATIONAL ASSOCIATION OF REALTORS: HOUSING AFFORDABILITY INDEX

NATIONAL ASSOCIATION OF REALTORS: HOUSING AFFORDABILITY INDEX

Median Priced

Existing Single- Mortgage

Family Home

Rate*

261,600

4.72

274,600

4.04

300,200

3.17

Year

2018

2019

2020

2020

2020

2021

2021

2021

2021

2021

2021

2021

2021

2021

2021

2021

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct r

Nov p

Northeast

Midwest

South

West

315,600

313,700

308,000

315,100

331,500

346,200

356,800

370,100

366,600

364,700

357,900

359,500

362,600

390,600

263,100

327,700

513,900

2.82

2.73

2.79

2.86

3.14

3.11

3.01

3.03

2.92

2.89

2.95

3.12

3.12

3.12

3.12

3.12

3.12

Monthly

P&I

Payment

1088

1054

1035

Payment

as a %

of Income

17.1

15.7

14.6

Median

Family

Income

76,401

80,808

84,969

1,040

1,022

1,011

1,044

1,138

1,184

1,205

1,253

1,224

1,213

1,199

1,231

1,242

14.8

14.5

13.3

14.4

13.9

15.9

16.4

17.1

16.6

16.6

16.5

16.8

16.9

84,200

84,626

91,119

86,883

98,331

89,339

88,067

88,139

88,457

87,865

87,300

87,941

88,137

1,338

901

1,122

1,760

16.1

12.4

16.7

22.3

99,593

86,881

80,428

94,663

Qualifying

Income**

52,224

50,592

49,680

Affordability Indexes

Fixed

146.3

159.7

171.0

49,920

49,056

48,528

50,112

54,624

56,832

57,840

60,144

58,752

58,224

57,552

59,088

59,616

168.7

172.5

187.8

173.4

180.0

157.2

152.3

146.5

150.6

150.9

151.7

148.8

147.8

64,224

43,248

53,856

84,480

This

Month

155.1

200.9

149.3

112.1

Month

Ago

156.1

201.1

151.4

111.9

Year

Ago

166.1

217.0

176.0

120.0

*Effective rate on loans closed on existing homes - Federal Housing Finance Agency. Adjustable mortgage rates are not available since 2010.

Note: Starting in May 2019, FHFA discontinued the release of several mortgage rates and only published an adjustable rate mortgage called PMMS+ based on

Freddie Mac Primary Mortgage Market Survey. With these changes, NAR will no longer release the HAI Composite Index (based on 30-year fixed rate and ARM)

and will only release the HAI based on a 30-year mortgage. NAR calculates the 30-year effective fixed rate based on Freddie Mac's 30-year fixed mortgage

contract rate, 30-year fixed mortgage points and fees, and a median loan value based on the NAR median price and a 20 percent down payment.

**Based on a 25% qualifying ratio for monthly housing expense to gross monthly income with a 20% down payment.

p Preliminary r Revised

?2022 National Association of REALTORS?.

All Rights Reserved.

May not be reprinted in whole or in part without permission of the National Association of REALTORS?.

For reprint information, contact data@.

 ................
................

In order to avoid copyright disputes, this page is only a partial summary.

Google Online Preview   Download