In this Update we examine the implications of affordability for house prices at the market level. Despite sunbelt markets seeing the strongest house price growth over the past couple of years, affordability looks most stretched in the West. This has been the most useful predictor of house price falls so far, with Sacramento, San Francisco and Seattle among the markets with the largest drops to date.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.