{"id":11964,"date":"2017-08-14T12:29:25","date_gmt":"2017-08-14T12:29:25","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=11964"},"modified":"2017-08-14T12:29:26","modified_gmt":"2017-08-14T12:29:26","slug":"housing-affordability-actually-improving","status":"publish","type":"post","link":"http:\/\/www.anthonydidonato.net\/wordpress\/housing-affordability-actually-improving\/","title":{"rendered":"Is Housing Affordability Actually Improving?"},"content":{"rendered":"

Is Housing Affordability Actually Improving?<\/h1>\n

 <\/p>\n

\"Is<\/a>

Is Housing Affordability Actually Improving?<\/p><\/div>\n

 <\/p>\n

Growing incomes and low mortgage rates are helping to prop up housing affordability and offset rising home prices, according to the newly released National Association of Home Builders\/Wells Fargo Housing Opportunity Index. A quarter-point drop in interest rates in the second quarter helped to make homes more affordable to more consumers. Between the beginning of April and the end of June, 59 percent of new and existing homes were affordable to families earning the U.S. median income of $68,000.<\/p>\n

The national median home price increased to $256,000 in the second quarter from $245,000 in the first quarter, according to the index. Average mortgage rates fell 25 basis points to 4.08 percent in the second quarter from 4.33 percent in the first quarter. \u201cThe job market continues to gain steam, and this is boosting housing demand,\u201d says NAHB chief economist Robert Dietz. \u201cHome prices will continue to rise as inventory remains tight. The NAHB expects the housing market will continue to make gradual gains in 2017.\u201d<\/p>\n

The most affordable major housing market in the country in the second quarter was Youngstown-Warren-Boardman, Ohio-Pa., which has kept its title as most affordable for the third consecutive quarter. There, 93.3 percent of all new and existing homes are affordable to families earning the area\u2019s median income of $54,600. Rounding out the top five most affordable major markets are Syracuse, N.Y.; Dayton, Ohio; Buffalo-Cheektowaga-Niagara Falls, N.Y.; and Scranton-Wilkes Barre-Hazelton, Pa.<\/p>\n

The nation\u2019s most affordable smaller market is Kokomo, Ind., where 96.9 percent of homes in the second quarter were affordable to families earning the median income of $62,500. Other smaller markets that topped the list were Davenport-Moline-Rock Island, Iowa-Ill.; Glen Falls, N.Y.; Watertown-Fort Drum, N.Y.; and Monroe, Mich.<\/p>\n

On the other hand, the nation\u2019s least affordable major housing market, for the 19th consecutive quarter, was San Francisco-Redwood City-South San Francisco, Calif. Just 7.6 percent of homes in the second quarter were considered affordable to families earning the area\u2019s median income of $113,100. All five of the least affordable small housing markets were in California. In Salinas, Calif., which topped the list, 12.4 percent of all new and existing homes were affordable to families earning the area\u2019s median income of $63,100.<\/p>\n

Source: National Association of Home Builders<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Is Housing Affordability Actually Improving?     Growing incomes and low mortgage rates are helping to prop up housing affordability and offset rising home prices, according to the newly released National Association of Home Builders\/Wells Fargo Housing Opportunity Index. A quarter-point drop in interest rates in the second quarter helped to make homes more affordable … <\/p>\n

Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,8],"tags":[5,32,4,9],"class_list":["post-11964","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate-tips","tag-anthony-didonato","tag-news","tag-real-estate","tag-tips","item-wrap"],"yoast_head":"\nIs Housing Affordability Actually Improving? - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.anthonydidonato.net\/wordpress\/housing-affordability-actually-improving\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/housing-affordability-actually-improving\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/housing-affordability-actually-improving\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"Is Housing Affordability Actually Improving?\",\"datePublished\":\"2017-08-14T12:29:25+00:00\",\"dateModified\":\"2017-08-14T12:29:26+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/housing-affordability-actually-improving\\\/\"},\"wordCount\":390,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"image\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/housing-affordability-actually-improving\\\/#primaryimage\"},\"thumbnailUrl\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/wp-content\\\/uploads\\\/2017\\\/08\\\/08142017.jpg\",\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/housing-affordability-actually-improving\\\/\",\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/housing-affordability-actually-improving\\\/\",\"name\":\"Is Housing Affordability Actually Improving? 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