Elena Nikulina

U.S. home affordability reaches record low in April, E.J. Antoni notes

U.S. home affordability reaches record low in April, E.J. Antoni notes
Home affordability hits record low in April

E.J. Antoni reports that homeownership affordability in the U.S. declined sharply in April, reaching the lowest level since August.

The monthly mortgage payment on a median-priced home is now well over half of the median household's take-home pay, as interest rates climbed and median sale prices hit a new record high.

Antoni previously reported that the Dallas Fed’s trimmed mean PCE inflation rate fell to 2.3% in April. He also highlighted a 1.5% decline in U.S. utility prices following the start of the Iran war. These figures offer additional context for recent moves in consumer costs.

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