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91
Top 5 Affordable
Markets
According to the Realtor Affordability
Distribution Curve and Score, affordability
declined nationally from Q 3 2017 to Q 3
2018. However, it is interesting to note that
20 of the 100 largest metros in the country
experienced improved affordability. e
report attributed the increase in inventory
in 2018 fall as the reason for affordability in
these metros.
e report found that 66 out of the 100
largest metros surveyed recorded a decline in
affordability over the past year. Fourteen of
these cities remain unchanged.
e share of active listing inventory
decreased from 19.7 percent to 15.4 percent
among households earning $35,000 and
dropped from 53.9 percent to 47.3 percent
among households earning $75,000. is is
a clear indication that some above-median
income households cannot afford the median
home listing, the report stated. Nationally,
the country's distribution score (a sum-
mary of affordability across income levels)
decreased from 0.84 last fall to 0.80.
e larger and more expensive markets
across the country recorded high inventory
growth rates. Inventory in Austin, Oxnard-
ousand Oaks, Nashville, San Jose, and
Portland far outpaced the national rate of 2
percent. San Jose and Nashville topped the
charts with growth rates at 129.9 percent and
32 percent, respectively.
In October, inventory in Austin, Oxnard-
ousand Oaks, Nashville, San Jose, and
Portland grew faster than the national rate of
2 percent, with San Jose and Nashville lead-
ing the list with growth rates of 129.9 percent
and 32.0 percent growth, respectively. New
listings on the market are 10 percent smaller
and on average 8 percent cheaper than exist-
ing inventory.
Most affordable markets Austin-Round
Rock, Texas leads the charge at 0.67, fol-
lowed by Oxnard-ousand Oaks-Ventura,
California at 0.44, Nashville-Davidson,
Tennessee at 0.70, San Jose-Sunnyvale,
California at 0.46 and Portland-Vancouver,
Oregon-Washington at 0.55.
Least affordable markets Spokane-Spokane
Valley, Washington recorded a drop at 0.65,
followed by Boise City, Idaho at 0.63, Las
Vegas-Henderson-Paradise, North Virginia
at 0.65, Wichita, Kansas at 0.98 and Colum-
bia, South Carolina at 0.94.
Puerto Rico
Real Estate Opportunities
Lic. E-109
Based in San Juan, Puerto Rico
OFFICE: 787.763.7202 | CELL: 787.309.3452
FAX: 787.282.0461
Gretchen@REOPuertoRico.com
REOPuertoRico.com
Gretchen García
Lic 16825
Broker/Owner
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