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Purchase Power Returns in Some States Across the U.S.

March 27, 2018

Constant reports on low-inventory and heightened home prices haven't left much room for good news in the housing world. However, there are a few states that seem to have a much easier process for homebuyers 

 

"As house values grow, home purchasing power isn't just measured by how high or low prices are in a given area. Factors like local incomes and mortgage rates also help determine how much house someone can afford to buy," according to National Mortgage News.

"Real house prices, based not only on median home values but changes in incomes and rates, increased 2.3% both year-over-year and month-over-month in January, according to First American Financial Corp."

 

The report highlighted 12 states where the purchase power is still reigning supreme. These 12 states include: Hawaii, Nebraska, Iowa, Alabama, New Mexico, Vermont, Oklahoma, Wyoming, New Jersey, Maryland, Arizona and West Virginia. 

 

West Virginia had the highest Real Home Price Index at 77.44. To learn more about the purchasing power in these 12 states, click on the image above

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