By Na Zhai | Eye On Housing
NAHB recently updated its priced out estimates for 2019. The new estimates show that, if the median U.S. new home price goes up by $1,000, 127,560 households would be priced out of the housing market nationwide. In other words, based on their incomes, 127,560 households would be able to qualify for a mortgage to purchase the home before the price increase, but not afterward.
The number of priced out households varies across both states and metropolitan areas, largely affected by the sizes of local population and the affordability of new homes. Among all the states, Texas registered the largest priced out effects that a $1,000 home price increase could push 11,152 households out of the market, followed by California (9,897), and Ohio (7,341).