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Home affordability drops in second quarter

Home sales are struggling to rebound after slumping in the second half of last year, when a jump in mortgage rates to nearly 5% discouraged many would-be buyers.

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The first-quarter picture. relatively affordable.” The National Association of Realtors reported Monday that home sales fell 4.9% to a seasonally adjusted annual rate of 5.21 million, down from.

Texas home sales in the second quarter were 4.7 percent ahead of a year ago. The inventory of houses for sale in the state continued to fall – down 9.2 percent year-over-year to 3.8 months.

Housing affordability eroding but less of a concern outside Vancouver, Toronto and Victoria. The Vancouver area experienced the sharpest affordability drop. at 87.5 per cent (up from 82.6 per cent in the second quarter).

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 · According the California Association of Realtors’ Traditional Housing Affordability Index, only 29% of California households could afford to purchase the $553,260 median-priced home in the second quarter of 2017. This is down from 32% in first-quarter.

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 · As the spring home buying season wound down in the second quarter, home seekers still on the hunt may have finally gotten some relief. Nationally, inventory was up 12.2% over the first quarter. This second-quarter rebound is the largest since 2015. Last year, the second quarter increase was a.

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Despite increasing home prices, housing affordability improved in many markets the third quarter of 2017, but the national average remains at a decade-low, according to the Q3 2017 U.S. Home.

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Higher mortgage rates didn't help buyers either. Mortgage rates in the second quarter averaged 4.5 percent for a 30-year loan, up from 3.7.

TORONTO, June 27, 2019 /CNW/ – Housing affordability has improved for the second straight-quarter in Canada in the first quarter of 2019, according to the latest RBC Economics Housing Trends and.

A modest increase in interest rates offset a slight decline in home prices to keep housing affordability. 4.72 percent in the third quarter. This was the fourth straight quarterly rate hike and the.

The number of Californians who can afford a home has been below 40 percent for 21 straight quarters. In the second quarter, 37 of 45 counties that CAR tracks saw affordability decline on an annual basis. In the nine-county Bay Area, affordability dipped to 18 percent, down on both a quarterly and yearly basis.