{"id":17807,"date":"2020-09-17T13:27:12","date_gmt":"2020-09-17T13:27:12","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=17807"},"modified":"2020-09-17T13:27:12","modified_gmt":"2020-09-17T13:27:12","slug":"affordability-dips-as-home-prices-reach-all-time-high","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/affordability-dips-as-home-prices-reach-all-time-high\/","title":{"rendered":"Affordability Dips as Home Prices Reach All-Time High"},"content":{"rendered":"

Affordability Dips as Home Prices Reach All-Time High<\/h1>\n
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From June to July, median sales price rose by 8.5%, more than double the 4.1% increase seen in family income levels, the National Association of REALTORS\u00ae reports. But mortgage rates that have fallen to all-time lows are helping to offset some of the rising costs.<\/p>\n

As of July, all of the national and regional data in NAR\u2019s affordability index was above 100, which means a family with a median income had more than the income required to afford a median-priced home. For the analysis, the income required to afford a mortgage is calculated as no more than 25% of a family\u2019s income.<\/p>\n

The most affordable region for housing in the U.S. in July was in the Midwest, with a median family income of $80,742, which is nearly more than double the qualifying income of $40,416. On the other hand, the least affordable region remained the West, which has a median family income of $88,022 and a qualifying income of $75,504, NAR\u2019s index shows.<\/p>\n

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\"Affordability<\/div>\n<\/div>\n<\/div>\n

\u00a9 National Association of REALTORS\u00ae<\/p>

<\/figcaption><\/figure>\n<\/div>\n

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All four major regions of the U.S. saw housing affordability increase compared to a year ago. The Northeast saw the largest increase of 10%, followed by the Midwest with a 5.5% increase, the South at 4.2%, and the West at 2.3%.<\/p>\n

Mortgage rates are down 74 basis points compared to a year ago. The median sales price for a single-family home sold in July was $307,800. Meanwhile, median family incomes increased by 4.1%.<\/p>\n

View the full report from NAR\u2019s Housing Affordability Index.<\/a><\/p>\n

\u00a9National Association of REALTORS\u00ae
\nReprinted with permission<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Affordability Dips as Home Prices Reach All-Time High From June to July, median sales price rose by 8.5%, more than double the 4.1% increase seen in family income levels, the National Association of REALTORS\u00ae reports. But mortgage rates that have fallen to all-time lows are helping to offset some of the rising costs. As of … <\/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-17807","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":"\nAffordability Dips as Home Prices Reach All-Time High - 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\/affordability-dips-as-home-prices-reach-all-time-high\/\" \/>\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=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/affordability-dips-as-home-prices-reach-all-time-high\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/affordability-dips-as-home-prices-reach-all-time-high\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"Affordability Dips as Home Prices Reach All-Time High\",\"datePublished\":\"2020-09-17T13:27:12+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/affordability-dips-as-home-prices-reach-all-time-high\\\/\"},\"wordCount\":265,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"image\":{\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/affordability-dips-as-home-prices-reach-all-time-high\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/magazine.realtor\\\/sites\\\/default\\\/files\\\/styles\\\/asset_image_full_content\\\/public\\\/assets\\\/images\\\/2009_DNSI_affordability_NAR.png?itok=fdG5O0J9\",\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/affordability-dips-as-home-prices-reach-all-time-high\\\/\",\"url\":\"https:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/affordability-dips-as-home-prices-reach-all-time-high\\\/\",\"name\":\"Affordability Dips as Home Prices Reach All-Time High - 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