October 2024 Market Indicator Report October 2024 | 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 .
October Year to Date
64 61
67 54
61 56
2022 2023 2024
2022 2023 2024
- 31.2 % - 15.6 % + 13.0 % - 35.6 % - 16.4 % + 8.9 %
Affordability Index November 2023 December 2023 January 2024 February 2024 March 2024 April 2024 May 2024 June 2024 July 2024 August 2024 September 2024 October 2024 12-Month Avg
Historical Housing Affordability Index by Month
180
160
140
120
100
80
60
40
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
01-2021
Current as of November 10 , 2024 . Data © 2024 REsides , INC . All Rights Reserved . | Sponsored by South Carolin