National Association of Home Builders Releases 2023 “Priced-Out” Estimates
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NAHB 2023 “Priced Out” Estimates – State and Local Estimates
NAHB 2023 “Priced Out” Estimates – State and Local Estimates
The recently released National Association of Home Builders (NAHB) priced-out estimates for 2023 reveal that approximately 96.5 million US households are not able to afford a median-priced new home. An additional 140,436 households would be priced out of the new home market if prices were to go up by only $1,000.
The NAHB says its estimates show that, depending on the starting rate, a quarter-point increase in the rate of 6.25% with zero points on a 30-year fixed-rate mortgage can price over 1.28 million US households out of the market for the median-priced new home.
More details, including priced out estimates for every state and over 300 metropolitan areas, and a description of the underlying methodology, are available in the full study.
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