Sentences with phrase «median housing prices fell»

Some bad economic news this morning: New home sales rose slightly in April, but median housing prices fell sharply, as did the number of new unemployment claims, according to the Wall Street Journal.

Not exact matches

One common measure of affordability — the ratio of median house prices to household income — fell to 3.4 last year, the lowest level since 1995 and in line with the two decades ending in the year 2000.

In January 2007 the median house price of Detroit was $ US76, 000 ($ 99,000) but in the 10 years since the GFC and closing down of major manufacturers in the city has seen home values fall off a cliff.

Take Las Vegas, one of the most overheated markets in the last housing peak — median home price in the market subsequently fell 62 %, and still have not yet fully recovered a decade later.

Current low housing prices, coupled with historically low interest rates (the 20 year average is 7 % but a minimum down FHA loan can be had for 4.5 % today), explains why the monthly mortgage payment on a median priced house bought with a 20 % down payment has fallen to an all - time low of 13 % of the median income.

Higher priced properties located in overall areas of disparate housing prices are more difficult to sell for one very economically relevant reason... there are far fewer buyers out there with the resources to be able to afford said higher priced properties than there are for the average / median priced home that falls within the affordable price range of the vast majority of buyers... economics 101.

Paul Bishop, NAR vice president of Research put the earnings in perspective, noting that «the median Realtor ® income had fallen by 35 percent during the housing downturn, but with the help of sustained increases in both home sales and prices, it's recovered to the highest level since 2006.»