Map shows state report cards for homebuilding and affordability and NYs rank is shocking

States in the South and Midwest lead the nation in homebuilding and affordability, according to a new national housing report card grading each state’s response to the housing crisis.South Carolina tops the rankings as the only state to receive a grade of A in the new report card released on Thursday by the Realtor.com economic research team.Of the 13 A and B grades handed out, all were to states in the South or Midwest.Meanwhile, the seven F grades on the report card all went to states in the West and Northeast, where prices are usually higher and zoning and land use regulations are generally stricter.However, no state in the nation scored an A+ in the new rankings, showing that there is room for improvement in every state when it comes to addressing the nation’s housing supply gap of nearly 4 million units.“Our state report card rankings reveal stark disparities in housing affordability and homebuilding efforts across the U.S.,” says Realtor.com Chief Economist Danielle Hale.

“While some states are leading the way with strong homebuilding activity, others are grappling with high housing prices and sluggish construction.” The rankings for each state are equally based on two major factors: housing affordability and the ability to meet future supply challenges through new construction. Affordability, one half of the score, includes the Realtors Affordability Score and the share of median income it takes to make payments on a median-priced home. Homebuilding activity, the other half of the score, is based on building permits per capita and the new-construction premium, which is the cost difference between new and existing homes.In this last regard, South Carolina excels, with the typical new home in the Palmetto State priced 8.2% lower than the typical existing home.By comparison, nationwide, the median sales price for new homes was 3.4% higher than for existing homes last year.It means that South Carolina is beating the rest of the nati...