Tag Archives: Household Income

First American reports that between September 2022 and October 2022, rose nearly 9% month-over-month, with the rapid annual decline in affordability driven by a 12% annual increase in nominal house prices.

According to First American’s Chief Economist, two major hurdles stand in the way of homebuyers and affordable homes. Click through to find out what those obstacles are.

"The HPSI reached an all-time survey low this month, in line with expectations that the housing market will continue to cool in the months ahead," said Doug Duncan, Fannie Mae SVP and Chief Economist.

Having slowed from recent peaks, house price appreciation in all top 50 markets analyzed in the latest study from First American revealed the housing market is adjusting to the decline in affordability as the hot pandemic sellers’ market transitions in favor of homebuyers.

According to Fannie Mae's Home Purchase Index, the percentage of Americans that believe now is a good time to buy a home decreased alongside those who expect mortgage rates to go down in the next year. Meanwhile, the percentage who say it is a bad time to buy increased to 75%.

The average price per square foot of a home hit a new record in July as a new study revealed that these prices have increased 310% since 1980.  According ...

Mark Fleming, Chief Economist at First American, explains why current conditions mean adjustable-rate mortgages “could be a game-changer for many first-time homebuyers."

Zillow found that over the course of 2021, the gains most homeowners realized amounted to much more than the median income for the associated areas.

The pandemic has caused shifts in the demographics of households including how many streams of income a household has while others found happiness by moving to a new metropolitan area to take advantage of a different housing market or to be closer to family.

A study by Freddie Mac analyzes how these financial obligations can impact how families pay rent or their mortgage.