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FRI - U.S. Median New Home Sale Prices Continue Decline
First Trust S&P REIT Index Fund
The combination of falling median new home sale prices and rising median household incomes in the United States has resulted in a sharp decline in the relative unaffordability of new homes since the ratio between the two peaked in February 2018.
The following chart shows the history of the ratio of trailing twelve-month averages of median new home sales prices and median household income for annual data from 1967 through 2017, and for monthly data from December 2000 through February 2019.
Here, we see that after peaking at 5.45 times median household income in February