Rising home prices and interest rates made housing less affordable last year than at any time in the last five years, according to data released Tuesday by the National Association of Realtors.

So is it time to sound the siren over a housing bubble? Not really. Nationally, the Realtors’ housing affordability index shows that, excluding the last five years, homes for the U.S. as a whole are still more affordable than at any time since at least 1981.