Adhesives Mag logo
search
cart
facebook twitter linkedin youtube
  • Sign In
  • Create Account
  • Sign Out
  • My Account
Adhesives Mag logo
  • NEW PRODUCTS
  • NEWS
    • Adhesives & Sealants Headlines
    • Mergers/Acquisitions
    • Events Calendar
    • Market Trends
  • TOPICS
    • Finished Adhesives and Sealants
    • Pressure-Sensitive Adhesives (PSAs)
    • Coatings
    • Raw Materials and Chemicals
    • Materials Handling/Processing
    • Meter/Mix/Dispense
    • Curing
    • Testing/Quality Control
    • Packaging of Adhesives & Sealants
    • Converting/Packaging
    • Composites
    • Sustainability
  • COLUMNS
    • European Perspectives
    • Strategic Solutions
    • Supply Chain Strategies
    • Tape Talk
  • TOP 20
  • MULTIMEDIA
    • Videos
    • Podcasts
    • Webinars
    • eBooks
  • EXPLORE
    • Adhesives in Action
    • Blog
    • ASI Store
    • Industry Links
    • Market Research
    • Classifieds
  • DIRECTORIES
    • Buyers' Guide
    • Global Adhesives & Sealants Directory
    • Raw Materials, Chemicals, Polymers and Additives Handbook
    • Equipment Handbook
    • Distributor Directory
  • EMAGAZINE
    • EMAGAZINE
    • ARCHIVE ISSUES
    • ADVERTISE
      • Custom Content & Marketing Services
    • CONTACT
  • SIGN UP!
NewsMarket TrendsAdhesives & Sealants Headlines

U.S. Housing Affordability Increases

Headlines.jpg
February 27, 2013

Exceptionally low interest rates reportedly helped ensure a slight gain in nationwide housing affordability amid relatively stable house prices in the final quarter of 2012, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI). In all, 74.9% of homes sold between the beginning of October and end of December 2012 were affordable to families earning the U.S. median income of $65,000. This was up nearly a percentage point from the 74.1% of homes sold that were affordable to median-income earners in last year’s third quarter.

“The most recent housing affordability data should be encouraging to many prospective home buyers, because it shows that homeownership remains within reach of median-income consumers even as most local markets appear to be on a recovery path,” said Rick Judson, NAHB chairman and a home builder from Charlotte, N.C.  He noted that the most recent reading of the NAHB/First American Improving Markets Index found that 259 out of 361 metros currently qualify as improving, including representatives from all 50 states and the District of Columbia.

“The median price of all new and existing homes sold in the fourth quarter of 2012 was $188,000, essentially unchanged from the previous quarter’s $189,000 that marked a nearly three-year high,” said David Crowe, NAHB chief economist. “It is noteworthy that affordability remains historically high thanks to favorable mortgage rates even as national home price indexes show some rise in values.”

Ogden-Clearfield, Utah, held its position as the nation’s most affordable major housing market for a second consecutive quarter at the end of 2012. There, 93.7% of all new and existing homes sold were affordable to families earning the area’s median household income of $71,500—up slightly from the 93.2% of homes affordable to median-income earners in the third quarter. Also ranking among the most affordable major housing markets in respective order were Dayton, Ohio; Indianapolis-Carmel, Ind.; Lakeland-Winter Haven, Fla.; and Syracuse, N.Y.

Among smaller housing markets, Fairbanks, Alaska, remained at the top of the affordability chart with nearly all homes sold in the quarter—99.6%—affordable to those earning the median income of $92,900. Other small housing markets at the top of the index included Cumberland, Md.; Springfield, Ohio; Monroe, Mich.; and Mansfield, Ohio, in that order.

After 18 consecutive quarters at the bottom of the affordability chart, New York-White Plains-Wayne, N.Y.-N.J. switched places with San Francisco-San Mateo-Redwood City, Calif., which had been the second-to-least affordable market. Just 28.4% of homes sold in San Francisco during the fourth quarter were affordable to families earning that area’s median income of $103,000. Other major metros at the bottom of the affordability chart included Santa Ana-Anaheim-Irvine, Calif.; Los Angeles-Long Beach-Glendale, Calif.; and Honolulu, Hawaii, in that order.

The least affordable small housing market in the fourth quarter was Ocean City, N.J., where just 43.5% of homes sold were within reach of families earning the median income of $71,100. Other small metros at the bottom of the affordability chart included San Luis Obispo-Paso Robles and Santa Cruz-Watsonville, Calif., followed by Dover, Del., and Santa Barbara-Santa Maria-Goleta, Calif., respectively.

For additional information, visit www.nahb.org/hoi.

KEYWORDS: market reports

Share This Story

Looking for a reprint of this article?
From high-res PDFs to custom plaques, order your copy today!

Recommended Content

JOIN TODAY
to unlock your recommendations.

Already have an account? Sign In

  • mouse in hole

    Using Foam Sealants for Pest Prevention

    According to the National Pest Management Association,...
    Finished Adhesives and Sealants
    By: Kevin Corcoran
  • linked network nodes

    Using the Power of AI for Adhesive and Sealant Formulation

    With the help of software solutions, adhesive formulators...
    Finished Adhesives and Sealants
    By: Karen Parker
  • top20-hero.jpg

    2024 ASI Top 20: Leading Global Manufacturers of Adhesives and Sealants

    ASI's annual ranking of the top 20 global adhesive and...
    Pressure-Sensitive Adhesives (PSAs)
Manage My Account
  • eMagazine Issues
  • eNewsletter
  • Online Registration
  • Manage My Preferences
  • Subscription Customer Service

More Videos

Popular Stories

Picture of Noelle Sieradzki

Mactac Announces Changes to Leadership Team

Picture of three men and one woman cutting a ribbon

H.B. Fuller Opens Adhesives and Sealants Facility in UAE

Picture of white beads of hot-melt adhesives

Henkel and Sasol Collaboration Helps Deliver Adhesives with Lower Carbon Footprint

ASI Top 20 website

Events

January 1, 2030

Webinar Sponsorship Information

For webinar sponsorship information, visit www.bnpevents.com/webinars or email webinars@bnpmedia.com.

View All Submit An Event

Products

Structural Adhesives: Properties, Characterization and Applications

Structural Adhesives: Properties, Characterization and Applications

See More Products

ASI CASE EBOOK

Related Articles

  • Construction.jpg

    Builder Confidence Drops as Housing Affordability Issues Rise

    See More
  • residential construction

    Housing Affordability Declines Due to Economic Losses Stemming from COVID-19 Pandemic

    See More
  • image of a graph representing markets

    Single-family Housing Starts Drop in April as Multi-family Housing Increases

    See More

Related Directories

  • Catbridge Machinery

    Catbridge designs and manufactures state-of-the-art web converting solutions for a wide range of industries. Products include innovative slitter rewinders as well as process lines for coating, laminating, and other functions. We tailor solutions to individual customer needs and provide machinery that increases productivity, reduces waste, and improves output quality.
×

Keep the info flowing with our eNewsletters!

Get the latest industry updates tailored your way.

JOIN TODAY!
  • RESOURCES
    • Advertise
    • Contact Us
    • Directories
    • Store
    • Want More
  • SIGN UP TODAY
    • Create Account
    • eMagazine
    • eNewsletters
    • Customer Service
    • Manage Preferences
  • SERVICES
    • Marketing Services
    • Reprints
    • Market Research
    • List Rental
    • Survey & Sample
  • STAY CONNECTED
    • LinkedIn
    • Facebook
    • Youtube
    • X (Twitter)
  • PRIVACY
    • PRIVACY POLICY
    • TERMS & CONDITIONS
    • DO NOT SELL MY PERSONAL INFORMATION
    • PRIVACY REQUEST
    • ACCESSIBILITY

Copyright ©2025. All Rights Reserved BNP Media.

Design, CMS, Hosting & Web Development :: ePublishing