July 2018 Monthly Market Report July-Monthly-Market-Indicator | 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.
July
Affordability Index
Year to Date
90
82
88
80
79
76
2016 2017 2018 2016 2017 2018
+ 2.3% - 8.9% - 3.7% - 1.1% - 9.1% - 5.0%
Prior Year Percent Change
-8.0%
August 2017 80 87 September 2017 80 88 -9.1%
October 2017 75 85 -11.8%
November 2017 73 84 -13.1%
December 2017 76 79 -3.8%
January 2018 72 79 -8.9%
February 2018 77 85 -9.4%
March 2018 79 80 -1.3%
April 2018 76 77 -1.3%
May 2018 74 79 -6.3%
June 2018 77 79 -2.5%
July 2018 79 82 -3.7%
12-Month Avg 77 82 -6.7%
Historical Housing Affordability Index by Month
110
100
90
80
70
04-2014
04-2015
04-2016
04-2017
04-2018
Current as of August 10, 2018. Data is Copyright © 2018 All Rights Reserved. MLS of Hilton Head Island. Provided by the Hilton Head Area Association of REALTORS® and South Carolina REALTORS®. Report © 2018 ShowingTime. | 10