Let’s take a look at how affordability is doing in the Seattle area after the last couple months of changes in home prices and interest rates. So how does affordability look as of May? Thanks to the spring surge in home prices, we’ve dropped back below the “affordable” level of 100. The index sits at…
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Affordability At Pre-Bubble Average Level
Let’s take a look at how affordability is doing in the Seattle area after the last couple months of changes in home prices and interest rates. So how does affordability look as of March? Basically on par with the long-term pre-bubble average. The index sits at 103.5, basically the same as January. An index level…
Affordability: Price Declines Offset by Increasing Rates
Let’s take a look at how affordability is doing in the Seattle area after the last couple months of changes in home prices and interest rates. So how does affordability look as of January? Roughly the same place it’s been bouncing around since last June. The index inched back up to 103.6 from 100.8 in…
Affordability Improved in October & November
Let’s take a look at how affordability is doing in the Seattle area after the last couple months of changes in home prices and interest rates. So how does affordability look as of November? Slightly improved from July, August, and September. The index inched back up to 104.7 (i.e. the monthly payment on a median-priced…
Affordability Rose Slightly in September
Let’s take a look at how affordability is doing in the Seattle area after the last couple months of changes in home prices and interest rates. So how does affordability look as of September? Slightly better. The index inched back above 100 (i.e. the median-priced home is affordable to a median-income household) thanks to the…