Sixty percent of U.S. households are priced out of the new-home market, according to estimates from the National Association of Home Builders.<\/p>\n\n\n\n
About 75.1 million households would be unable to qualify for a mortgage to purchase a median-priced new home under standard underwriting criteria. What\u2019s more: If the median price of a home increases by $1,000, another 154,000 households will be priced out, the analysis notes. Researcher Na Zhao used a 2.8% interest rate to make those calculations, but the 30-year fixed-rate mortgage\u00a0averaged 3.05% last week<\/a>.<\/p>\n\n\n\n The states that would have the largest number of households priced out of the new-home market if median prices increased by $1,000 are Texas, California, and Florida. Researchers note these also are the nation\u2019s three most populous states. The new-home market has been\u00a0facing pressure to raise costs<\/a>\u00a0due to escalating lumber prices as well as labor and lot shortages.<\/p>\n\n\n\n <\/p>\n","protected":false},"excerpt":{"rendered":" Sixty percent of U.S. households are priced out of the new-home market, according to estimates from the National Association of Home Builders. About 75.1 million households would be unable to qualify for a mortgage to purchase a median-priced new home under standard underwriting criteria. What\u2019s more: If the median price of a home increases by… Continue reading Survey: 60% of Households Priced Out of New-Home Market<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-21","post","type-post","status-publish","format-standard","hentry","category-uncategorized","entry"],"_links":{"self":[{"href":"https:\/\/hbrtwn.com\/elizabeth-chase\/wp-json\/wp\/v2\/posts\/21","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hbrtwn.com\/elizabeth-chase\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hbrtwn.com\/elizabeth-chase\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hbrtwn.com\/elizabeth-chase\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hbrtwn.com\/elizabeth-chase\/wp-json\/wp\/v2\/comments?post=21"}],"version-history":[{"count":1,"href":"https:\/\/hbrtwn.com\/elizabeth-chase\/wp-json\/wp\/v2\/posts\/21\/revisions"}],"predecessor-version":[{"id":22,"href":"https:\/\/hbrtwn.com\/elizabeth-chase\/wp-json\/wp\/v2\/posts\/21\/revisions\/22"}],"wp:attachment":[{"href":"https:\/\/hbrtwn.com\/elizabeth-chase\/wp-json\/wp\/v2\/media?parent=21"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hbrtwn.com\/elizabeth-chase\/wp-json\/wp\/v2\/categories?post=21"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hbrtwn.com\/elizabeth-chase\/wp-json\/wp\/v2\/tags?post=21"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}