New analysis from the National Association of Home Builders (NAHB) shows how rising home prices, mortgage rates, and property taxes are pushing more households out of the housing market—both nationally and here in Washington. Nationally, about 65% of U.S. households are already unable to afford a median-priced new home, and in Washington state, every $1,000 increase in the price of a median-priced new home prices an additional 2,070 households out of the market, including 982 households in the Seattle-metro area alone.
The NAHB “priced-out” analysis illustrates how even modest price increases can have outsized impacts in high-cost regions, while rising construction costs, fees, and regulatory requirements often amplify final home prices and further constrain housing supply. Read the full NAHB analysis and explore state and metro-level data through NAHB’s interactive affordability dashboard.