According to the Q3 2020 Housing Trends Report (HTR) from the National Association of Home Builders (NAHB), 27% of buyers reported being able to afford half or more of the homes available for-sale in their desired markets. In Q3 of 2019, that number was only 20%. The increase in housing affordability over the past 12 months is an indication that lower interest rates have had a strong impact on some buyers’ views of affordability than rising home prices. The NAHB does point out that while 27% believe housing is becoming more affordable, ~72% still say they can afford only a small fraction of the homes available in their desired market.
FEA compiles the Wood Markets News from various 3rd party sources to provide readers with the latest news impacting forest product markets. Opinions or views expressed in these articles do not necessarily represent those of FEA.
Buyers Views of Home Affordability Improves in Q3 2020