• Grey Facebook Icon
  • Grey Twitter Icon
Subscribe

 Stay updated on the latest news, tips, and event info in the mortgage industry. 

© American Business Media, LLC.

Timid House Price Appreciation Drives April 2019's Housing Affordability

July 1, 2019

April 2019 saw home prices dip 0.9%, a 0.72% year-over-year decline according to First American's Real House Price Index. The company also revealed that unadjusted house prices sat at 2.8% and consumer buying power increased 1.5% between March and April, according to HousingWire.

 

"Declining mortgage rates have encouraged demand by increasing house-buying power, however, when demand increases for a scarce (limited or low supply) good, prices will rise faster," said First American's Chief Economist Mark Fleming, according to the report.

 

"In April, the rate of year-over-year nominal house price appreciation increased to 5.9%, compared with 5.8% in March."

 

The largest growth in affordability came from America's West Coast according to the report. Fleming also told HousingWire that 43 of the 44 markets tracked saw affordability improve month-over-month. 

 

"The five markets to experience the largest growth in annual affordability were San Jose, Seattle, Portland, San Francisco and Los Angeles, according to First American," according to the report. 

 

To learn more about April's housing affordability, click on the image above

 

 

 

 

 

 

Share on Facebook
Share on Twitter
Please reload

Recent Posts

Please reload

Featured Posts

Gateway First Bank Expands With 34 New Mortgages Centers Across The Country

January 8, 2020

1/8
Please reload

Follow Us

  • Grey Facebook Icon
  • Grey Twitter Icon