Home prices still increasing!

Affordability improves for first time in 16 months

After months of declines, home affordability finally improved in July, according to the latest data from Black Knight.

The national affordability landscape improved in July after 16 straight months of declines, according to a first look at the Black Knight Home Price index, which will be released later this month.

After months of declines, home affordability finally improved in July, according to the latest data from Black Knight.

The national affordability landscape improved in July after 16 straight months of declines, according to a first look at the Black Knight Home Price index, which will be released later this month.

San Jose, the most expensive market in the country, was the lone exception; home prices there were down 6.4% year-over-year.

Another report released Wednesday by CoreLogic showed home prices in the San Francisco Bay area fell 4.7% month-over-month in July and the total number of homes sold dropped to its lowest point for a July since 2011.

A recent report from First American even showed that consumer house-buying power reached its highest point in two decades. According to First American’s data, unadjusted house prices sit 6.3% above the housing boom peak. Whereas consumer buying power ticked up 3.3% between May and June, increasing 12.2% year over year. (Source: Black Knight)

(Kelsey Ramírez) https://www.housingwire.com/articles/50053-black-knight-affordability-improves-for-first-time-in-16-months

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