According to statistics from the National Association of Home Builders, more purchasers were able to afford houses for sale in their areas in the second and third quarters of 2022. However, NAHB attributes this to a change in buyer pool composition—more potential buyers with higher incomes and education levels who are better positioned to absorb interest rate rises and afford homes—rather than an improvement in overall housing affordability.

In the first quarter of 2022, 81% of potential buyers could only afford fewer than half of the houses for sale in their areas. In Q2 2022, the share fell to 77%, and in Q3 2022, it fell to 69%. During the same time period, the proportion of people who can afford 50% or more of available houses climbed from 19% to 31%.
In all locations, affordability forecasts increased between the second and third quarters of 2022. The percentage of purchasers who could only afford a minority of houses fell from 73% to 66% in the Northeast, from 84% to 83% in the Midwest, from 82% to 77% in the South, and from 70% to 58% in the West.