Monday, June 5, 2023 | The Latest Buzz for the Appraisal Industry

Housing Affordability Decreases to Lowest Level in a Decade

Housing affordability fell to its lowest level since the National Association of Home Builders (NAHB) began tracking it on a consistent basis in 2012 as rising mortgage rates, ongoing building material supply chain disruptions, high inflation and elevated home prices pushed the housing market into a recession. And with mortgage rates moving even higher in the fall, affordability conditions are expected to further deteriorate through the end of the year.

According to the NAHB/Wells

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