Tuesday, 9 August 2022 | The Latest Buzz for the Appraisal Industry

First American: Rising Mortgage Rates, Stagnant Incomes Create Home Affordability Crisis

First American Financial Corp.’s May 2022 First American Real House Price Index (RHPI) shows real house prices increased 50.8% year over year but median household income has only increased 4.6% since May 2021 and 71.7% since January 2000.

The index measures the price changes of single-family properties throughout the U.S. adjusted for the impact of income and interest rate changes on consumer house-buying power over time at national, state and metropolitan area levels. Because

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