Sentences with phrase «home affordability fell»
Home affordability fell to the lowest level in seven years at the end of 2016, and the ingredients for a reversal are not there anytime soon.
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RBC's affordability measures fell between 0.5 and 1.5 percentage points but remained close to long - run averages, suggesting that affordability likely plays a neutral role in home buying decisions in the province.
The RBC housing affordability measure captures the proportion of pre-tax household income that would be needed to service the costs of owning a specified category of home at current market values (a fall in the measure represents an improvement in affordability).
During the second quarter of 2014, affordability measures at the national level fell by 0.9 percentage points to 48.0 per cent for two - storey homes, by 0.6 percentage points to 42.5 per cent for detached bungalows and by 0.4 percentage points to 27.4 per cent for condominium apartments.
The Conservative leader said Mr Brown has presided over declining affordability, a doubling of the council tax and a fall in home ownership while chancellor.
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In its annual year - end report, CREA states: «Transactions in B.C. and Ontario are anticipated to remain strong but fall short of this year's record levels due to deteriorating affordability, an ongoing shortage of affordably priced listings for single family homes and tightened mortgage regulations.»
The National Association of REALTORS (R) recently reported that housing affordability has fallen to a five - year low as home price increases have outpaced income growth.
Low mortgage rates and falling home values have brought housing within reach to more families than ever before, according to the latest National Association of REALTORS ® housing affordability index.
«Affordability has fallen to a five - year low as home price increases easily outpaced income growth,» he said.
As the cost of renting has gone up, the affordability of housing — due to falling mortgage rates and home values — has gotten more favorable.
«With these declines, falling inventory has also pushed affordability of homes across all segments to new post-recession lows.
The federal government shutdown, limited inventories and falling housing affordability have contributed to home buyers remaining on the sidelines.
Unless these challenges subside, RCG forecasts that affordability will fall by an average of nearly 9 percentage points across all 75 major markets between 2016 and 2019, with approximately 5 million fewer households able to afford the local median - priced home by 2019.
«Affordability has fallen to a five - year low, as home price increases easily outpaced income growth,» Lawrence Yun, chief economist for the National Association of REALTORS ®, noted in a recent housing report.
Homeownership has moved further out of reach, with affordability measured in the ATTOM Data Solutions Q4 2016 Home Affordability Index falling steeply in the fourth quarter to its lowest leveaffordability measured in the ATTOM Data Solutions Q4 2016 Home Affordability Index falling steeply in the fourth quarter to its lowest leveAffordability Index falling steeply in the fourth quarter to its lowest level since 2008.
The rise in housing affordability - which is drawing more buyers out into the market who are looking to cash in on low mortgage rates and fallen home prices compared to a few years ago.
There is no doubt that with home prices and mortgage rates on the rise, the affordability index will continue to fall.
Mortgage rates continue to hover around record lows and with falling home values, affordability is at record highs.
«New and existing - home supply has struggled to improve so far this fall, leading to few choices for buyers and no easement of the ongoing affordability concerns still prevalent in some markets,» says Lawrence Yun, NAR's chief economist.
In Vancouver, affordability fell by the most since 1994 as potential homebuyers were also hit by a surge in home prices.
Most of the affordability improvements between 2009 and 2012 were among homeowners who benefitted from falling housing costs, as many were able to modify or refinance their mortgages at lower interest rates or buy homes at low prices.
Home affordability is at 1971 levels, due to falling home prices and record low mortgage rates, pushing home ownership in reach to more families, according to the U.S. Department of Housing and Urban Development (HHome affordability is at 1971 levels, due to falling home prices and record low mortgage rates, pushing home ownership in reach to more families, according to the U.S. Department of Housing and Urban Development (Hhome prices and record low mortgage rates, pushing home ownership in reach to more families, according to the U.S. Department of Housing and Urban Development (Hhome ownership in reach to more families, according to the U.S. Department of Housing and Urban Development (HUD).
Housing affordability fell for the sixth consecutive quarter, after reaching an all - time high in the spring of 2012, as significantly higher home prices shut out more California home buyers during the third quarter of 2013, the CALIFORNIA ASSOCIATION OF REALTORS ® (C.A.R.) reported.