According to NAHB, Lansing-East Lansing, Mich., was the most affordable major housing market in Q3. Approximately 89.1% of all new and existing homes sold in the metro were affordable to families earning the area’s median income of $79,100.
Pittsburgh, Pa., Indianapolis-Carmel-Anderson, Ind., Scranton-Wilkes-Barre-Hazleton, Pa., Harrisburg-Carlisle, Pa., and Davenport-Moline-Rock Island, Iowa-Ill., rounded out the top five.
Meanwhile, the top five least affordable major housing markets include:
- Los Angeles-Long Beach-Glendale
- Anaheim-Santa Ana-Irvine moved up one spot to tie San Francisco-Redwood City-South San Francisco in the second slot
- San Diego-Carlsbad
- Oxnard-Thousand Oaks-Ventura
NAHB chairman Chuck Fowke warned that ongoing supply chain disruptions and tariffs on Canadian lumber and Chinese steel and aluminum would continue to exacerbate affordability problems in the months ahead.
“Policymakers must fix supply chain vulnerabilities that are disrupting and delaying construction projects and hurting housing affordability,” Fowke said.