The Housing Affordability Index: Home Prices Surge and Rising Mortgage Rates Troubled Affordability in May 2024 Diminished Housing Affordability in May 2024 The monthly mortgage payment increased by 3.9%, while the median price of single-family homes rose by 5.7% (from $401,500 to $424,500) year-over-year. By: Michael Hyman Powered by WPeMatico Michael Crist2024-07-24T13:19:02-05:00July 24th, 2024|NAR| Share This Story, Choose Your Platform! FacebookXRedditLinkedInTumblrPinterestVkEmail Related Posts Instant Reaction: Mortgage Rates, July 25, 2024 Instant Reaction: Mortgage Rates, July 25, 2024 June 2024 Existing-Home Sales Drop as Median Price Hits $426,900 June 2024 Existing-Home Sales Drop as Median Price Hits $426,900 Top Home Features Swaying Buyers’ Purchase Decisions Top Home Features Swaying Buyers’ Purchase Decisions Instant Reaction, Mortgage Rates, July 18, 2024 Instant Reaction, Mortgage Rates, July 18, 2024 Instant Reaction Housing Starts, July 17, 2024 Instant Reaction Housing Starts, July 17, 2024