March 2020 Market Indicators March-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.
March
79
Affordability Index
Year to Date
76
73
74
71
68
2018 2019 2020 2018 2019 2020
- 1.3% - 7.6% - 6.8% - 7.3% - 2.6% - 4.1%
Prior Year Percent Change
-1.3%
April 2019 75 76 May 2019 74 74 0.0%
June 2019 72 77 -6.5%
July 2019 72 80 -10.0%
August 2019 76 75 +1.3%
September 2019 73 76 -3.9%
October 2019 66 71 -7.0%
November 2019 78 73 +6.8%
December 2019 68 72 -5.6%
January 2020 71 73 -2.7%
February 2020 73 79 -7.6%
March 2020 68 73 -6.8%
12-Month Avg 72 75 -3.7%
Historical Housing Affordability Index by Month
110
100
90
80
70
60
04-2014
04-2015
04-2016
04-2017
04-2018
04-2019
Current as of April 10, 2020. Data is Copyright © 2020 All Rights Reserved. MLS of Hilton Head Island. Provided by the Hilton Head Area Association of REALTORS® and South Carolina REALTORS®. Report © 2020 ShowingTime. | 10