article thumbnail

Middle-Income Buyers Face the Nation’s Biggest Housing Shortage

Pro Builder

Middle-Income Buyers Face the Nation’s Biggest Housing Shortage ldeakins Tue, 06/13/2023 - 11:05 Middle-income buyers can afford to buy less than one-quarter of listings in today's housing market The U.S. A two-fold approach is needed to help with both low affordability and limited housing supply.

Income 52
article thumbnail

Housing Affordability, Median Incomes Took a Hit in April

Pro Builder

Housing Affordability, Median Incomes Took a Hit in April. As monthly mortgage payments increased double digits in April from March, median family income declined. The National Association of Realtors (NAR) found median family incomes dropped 1% from March to April this year as monthly mortgage payments went up 16.1%.

Income 66
professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Rising Home Prices Outpace National Household Incomes

Pro Builder

Rising Home Prices Outpace National Household Incomes. High home prices and a drop in median household income are creating a less affordable market for buyers. A drop in median household income is pushing many would-be buyers out of the market, where home prices are steadily increasing. Wed, 11/10/2021 - 10:18. Financials.

Income 98
article thumbnail

As Housing Costs Outpace Income Growth, the Typical U.S. Renter Is Now Rent-Burdened

Pro Builder

As Housing Costs Outpace Income Growth, the Typical U.S. income is required to pay the average rent, a threshold that now puts renter households in a precarious position as rising inflation also limits affordability for everyday goods. In 2019, before the pandemic, renters with the median income would be spending 27.2

Income 52
article thumbnail

Home Prices Outpace Income, Dropping Housing Affordability Rates

Pro Builder

Home Prices Outpace Income, Dropping Housing Affordability Rates. Monthly mortgage payments increased by 20% in May as family incomes increased by a comparatively meager 1.2%, according to the National Association of Realtors’ Housing Affordability Index. higher than April, and family income dropped by 1.0%.

Income 52
article thumbnail

What's next for affordable housing in 2024?

BD+C

What's next for affordable housing in 2024? 0 qpurcell Thu, 12/14/2023 - 15:40 Affordable Housing As 2023 draws to a close, GBBN’s Mary Jo Minerich and Amanda Markovic, AIA sat down to talk about the future. What’s next in terms of trends, technology, and construction of affordable housing? Where is it taking place?

Housing 105
article thumbnail

California Rep. Maxine Waters Proposes Billions to Help Low-Income Homebuyers

Pro Builder

Maxine Waters Proposes Billions to Help Low-Income Homebuyers ldeakins Thu, 06/22/2023 - 12:30 The new proposal aims to significantly expand funding for low-income housing California Representative Maxine Waters introduced three bills on Wednesday that would expand low-income housing and narrow the country’s racial wealth gap.

Income 52