Affordability increased in May as the Real House Price Index showed real home prices decreased from the previous month.

Real house prices, the measure of affordability from First American Financial Corp., a global provider of title insurance, settlement services and risk solutions for real estate transactions, decreased in May by 0.5%. However, they still increased 10.2% from May last year.

“Consumer house-buying power improved this month because of the small decline in the 30-year, fixed-rate mortgag…
Real Estate