[:en]The Cost of Waiting to Buy a Home[:es]El costo de esperar para comprar una casa [:]

The Cost of Waiting to Buy a Home | Simplifying The Market
[:en]The National Association of Realtors (NAR) recently released their July edition of the Housing Affordability Index. The index measures whether or not a typical family earns enough income to qualify for a mortgage loan on a typical home at the national level based on the most recent price and income data.

NAR looks at the monthly mortgage payment (principal & interest) which is determined by the median sales price and mortgage interest rate at the time. With that information, NAR calculates the income necessary for a family to qualify for that mortgage amount (based on a 25% qualifying ratio for monthly housing expense to gross monthly income and a 20% down payment).

Here is a graph of the income needed to buy a median priced home in the country over the last several years:

Qualifying Income | Simplifying The Market

And the income requirement has accelerated even more dramatically this year as prices have risen:

Qualifications | Simplifying The Market

Bottom Line

Some buyers may be waiting to save up a larger down payment. Others may be waiting for a promotion and more money. Just realize that, while you are waiting, the requirements are also changing.[:es]La Asociación nacional de Realtors (NAR) recientemente publicó la edición de julio de Housing Affordability Index (el índice de asequibilidad de la vivienda). El índice mide si una familia típica obtiene suficientes ingresos o no para calificar por un préstamo hipotecario en una casa típica en el nivel nacional basado en los datos más recientes sobre los precios y los ingresos.

NAR mira el pago mensual de una hipoteca (Principal e interés) que se determina por el precio medio de ventas y la tasa de interés hipotecaria en ese momento. Con esa información, NAR calcula los ingresos necesarios para que una familia califique por esa cantidad hipotecaria (basado en un índice calificativo del 25 % de los gastos mensuales de la vivienda al ingreso mensual bruto, con una cuota inicial del 20 %).

Aquí hay una gráfica de los ingresos necesarios para comprar  una casa de precio promedio en el país durante los últimos años:

ingresos para calificar | Simplifying The Market

Y el requisito de los ingresos se ha acelerado aún más drásticamente este año con el aumento de los precios:

Calificaciones | Simplifying The Market

En conclusión

Algunos compradores tal vez están esperando para ahorrar una cuota inicial más grande. Otros tal vez están esperando por una promoción o más dinero. Solamente dese cuenta que, mientras ellos están esperando los requisitos también están cambiando.[:]

[:en]The Cost of Waiting to Buy a Home[:es]El costo de esperar para comprar una casa [:]

The Cost of Waiting to Buy a Home | Simplifying The Market

[:en]The National Association of Realtors (NAR) recently released their July edition of the Housing Affordability Index. The index measures whether or not a typical family earns enough income to qualify for a mortgage loan on a typical home at the national level based on the most recent price and income data. NAR looks at the ...

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[:en]The Cost of Waiting to Buy a Home[:es]El costo de esperar para comprar una casa [:]

The Cost of Waiting to Buy a Home | Simplifying The Market

[:en]The National Association of Realtors (NAR) recently released their July edition of the Housing Affordability Index. The index measures whether or not a typical family earns enough income to qualify for a mortgage loan on a typical home at the national level based on the most recent price and income data.

NAR looks at the monthly mortgage payment (principal & interest) which is determined by the median sales price and mortgage interest rate at the time. With that information, NAR calculates the income necessary for a family to qualify for that mortgage amount (based on a 25% qualifying ratio for monthly housing expense to gross monthly income and a 20% down payment).

Here is a graph of the income needed to buy a median priced home in the country over the last several years:

Qualifying Income | Simplifying The Market

And the income requirement has accelerated even more dramatically this year as prices have risen:

Qualifications | Simplifying The Market

Bottom Line

Some buyers may be waiting to save up a larger down payment. Others may be waiting for a promotion and more money. Just realize that, while you are waiting, the requirements are also changing.[:es]La Asociación nacional de Realtors (NAR) recientemente publicó la edición de julio de Housing Affordability Index (el índice de asequibilidad de la vivienda). El índice mide si una familia típica obtiene suficientes ingresos o no para calificar por un préstamo hipotecario en una casa típica en el nivel nacional basado en los datos más recientes sobre los precios y los ingresos.

NAR mira el pago mensual de una hipoteca (Principal e interés) que se determina por el precio medio de ventas y la tasa de interés hipotecaria en ese momento. Con esa información, NAR calcula los ingresos necesarios para que una familia califique por esa cantidad hipotecaria (basado en un índice calificativo del 25 % de los gastos mensuales de la vivienda al ingreso mensual bruto, con una cuota inicial del 20 %).

Aquí hay una gráfica de los ingresos necesarios para comprar  una casa de precio promedio en el país durante los últimos años:

ingresos para calificar | Simplifying The Market

Y el requisito de los ingresos se ha acelerado aún más drásticamente este año con el aumento de los precios:

Calificaciones | Simplifying The Market

En conclusión

Algunos compradores tal vez están esperando para ahorrar una cuota inicial más grande. Otros tal vez están esperando por una promoción o más dinero. Solamente dese cuenta que, mientras ellos están esperando los requisitos también están cambiando.[:]

[:en]The Cost of Waiting to Buy a Home[:es]El costo de esperar para comprar una casa [:]

The Cost of Waiting to Buy a Home | Simplifying The Market

[:en]The National Association of Realtors (NAR) recently released their July edition of the Housing Affordability Index. The index measures whether or not a typical family earns enough income to qualify for a mortgage loan on a typical home at the national level based on the most recent price and income data. NAR looks at the ...

Continue Reading
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