Discussion Paper
Nonmetro Homeownership Affordability in Decline
Abstract: In recent years, home price growth exceeded household income growth nationally and in the Fifth District. Paired with rising interest rates over the past two years, this has considerably reduced affordability of homes on the market for the typical household.
Keywords: Housing; 5th district; House price index; house price growth;
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https://www.richmondfed.org/region_communities/regional_data_analysis/regional_matters/2023/rm_07_06_23_home_price_growth
Description: Discussion Paper
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Provider: Federal Reserve Bank of Richmond
Part of Series: Regional Matters
Publication Date: 2023-07-06