{"id":2689,"date":"2018-10-23T10:00:25","date_gmt":"2018-10-23T10:00:25","guid":{"rendered":"https:\/\/thezakariagroup.com\/housing-is-still-affordable-in-the-united-states\/"},"modified":"2018-10-23T10:00:25","modified_gmt":"2018-10-23T10:00:25","slug":"housing-is-still-affordable-in-the-united-states","status":"publish","type":"post","link":"https:\/\/thezakariagroup.com\/housing-is-still-affordable-in-the-united-states\/","title":{"rendered":"Housing Is Still Affordable in the United States!"},"content":{"rendered":"<div>\n<p><img fetchpriority=\"high\" decoding=\"async\" width=\"648\" height=\"354\" src=\"https:\/\/files.simplifyingthemarket.com\/wp-content\/uploads\/2018\/10\/15121846\/20181023-Share-STM.jpg\" class=\"webfeedsFeaturedVisual wp-post-image\" alt=\"Housing Is Still Affordable in the United States! | Simplifying The Market\" style=\"display: block; margin-bottom: 5px; clear:both;max-width: 100%;\" srcset=\"https:\/\/files.simplifyingthemarket.com\/wp-content\/uploads\/2018\/10\/15121846\/20181023-Share-STM.jpg 750w, https:\/\/files.simplifyingthemarket.com\/wp-content\/uploads\/2018\/10\/15121846\/20181023-Share-STM-549x300.jpg 549w\" sizes=\"(max-width: 648px) 100vw, 648px\"><\/p>\n<p>Lately, there have been many headlines circulating about whether or not there is an <em><a href=\"https:\/\/www.simplifyingthemarket.com\/2018\/10\/11\/dispelling-the-myth-about-home-affordability\/?a=357097-d98bb2836a7be92ba06574347ce699e8\">\u201caffordability issue forming in the housing market.\u201d<\/a><\/em><span id=\"more-38307\"><\/span><\/p>\n<p>If you are considering selling your current house and moving up to the home of your dreams, but are unsure whether or not to believe what you\u2019re seeing in the news, let\u2019s look at the results of the latest <em><a href=\"http:\/\/economistsoutlook.blogs.realtor.org\/2018\/10\/12\/august-2018-housing-affordability-index\/\">Housing Affordability Report<\/a><\/em> from the <em>National Association of Realtors<\/em> (NAR).<\/p>\n<p>According to NAR:<\/p>\n<blockquote>\n<p><em>\u201cA value of 100 means that a family with the median income has exactly enough income to qualify for a mortgage on a median-priced home. An index above 100 signifies that a family earning the median income has more than enough income to qualify for a mortgage loan on a median-priced home, assuming a 20 percent down payment.\u201d<\/em><\/p>\n<\/blockquote>\n<ul>\n<li>The national index results for August came in at 141.2.<\/li>\n<li>This is up from 138.9 in July, but down 8.3% from last August\u2019s value of 153.9.<\/li>\n<\/ul>\n<p>One big factor in determining affordability each month is the interest rate available at the time of calculation. In August 2017, the 30-year fixed rate mortgage interest rate was 4.19%. This August, the rate rose to 4.78%!<\/p>\n<p>With an index reading of 141.2, housing remains affordable in the U.S.<\/p>\n<p>Regionally, affordability is up in three out of four regions. The Northeast had the biggest gain at 6.2%. The South had an increase of 2.4% followed by the West with a slight increase of 0.1%. The Midwest had the only dip in affordability at 4.8%.<\/p>\n<p>Despite month-over-month changes, the most affordable region remains the Midwest, with an index value of 175.7. The West remains the least affordable region at 101.2. For comparison, the index was 146.7 in the South, and 151.2 in the Northeast.<\/p>\n<h3><strong>Bottom Line<\/strong><\/h3>\n<p>If you are thinking of selling your home, let\u2019s get together to discuss the affordability conditions in our marketplace.<\/p>\n<\/div>\n<p class=\"wpematico_credit\"><small>Powered by <a href=\"http:\/\/www.wpematico.com\" target=\"_blank\">WPeMatico<\/a><\/small><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Lately, there have been many headlines circulating about whether or not there is an \u201caffordability issue forming in the housing market.\u201d If you are considering selling your current house and moving up to the home of your dreams, but are unsure whether or not to believe what you\u2019re seeing in the news, let\u2019s look at [&hellip;]<\/p>\n","protected":false},"author":101010,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[110,98,99,111],"tags":[],"jetpack_publicize_connections":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Housing Is Still Affordable in the United States! 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