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QVMS - Mortgage Payments For Median New Homes Rocket Upward
Invesco S&P SmallCap 600 QVM Multi-factor ETF
After reaching a new low for affordability in March 2022, the median new home in the U.S. became even less affordable for the typical American household in April 2022.
April 2022's median household income was just 17.4% of the value of the median new home sold during the month. By this raw measure, new homes have never been less affordable for the period where we have data available.
Our basic mortgage payment is based solely on the principal and interest paid for an average 30-year conventional mortgage for the median new home sold.