April 2023 Market Indicators April 2023 | Page 10

Housing Affordability Index

This index measures housing affordability for the region . For example , an index of 120 means the median household income is 120 % of what is necessary to qualify for the median-priced home under prevailing interest rates . A higher number means greater affordability .
April Year to Date
106 108
77 80
63 66
2021 2022 2023
2021 2022 2023
- 8.6 % - 27.4 % - 18.2 % - 6.9 % - 25.9 % - 17.5 %
Affordability Index May 2022 June 2022 July 2022 August 2022 September 2022 October 2022 November 2022 December 2022 January 2023 February 2023 March 2023 April 2023 12-Month Avg
Historical Housing Affordability Index by Month
160
140
120
100
80
60
01-2008
01-2009
01-2010
01-2011
01-2012
01-2013
01-2014
01-2015
01-2016
01-2017
01-2018
01-2019
01-2020
Current as of May 10 , 2023 . Data © 2023 REsides , INC . All Rights Reserved . | Sponsored by South Carolin