Housing Affordability At All-Time High
The Housing Opportunity Index is a quarterly report that is released by the NAHB, National Association of Home Builders and Wells Fargo. Today the latest report was released and shows that affordability hit a new record high, at least in the 20+ years the studies have been conducted..
The new number is 74.6, which means that 74.6% of new and existing homes sold in the first quarter of 2011 are affordable to families earning the national median income of $64,400. Last quarter of 2010 the number was 73.9.
Before 2009, the index had never hit 70 percent and rarely topped 65
percen. Last quarter was the ninth straight
quarter the index was above 70 percent.
Indiana, Michigan and Ohio were the most affordable and California was the least affordable.
To see homes on the market, use our free MLS search, or contact us
for information about Frederick Real Estate .
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The Highland Group
Chris & Karen Highland * 301-831-9947
Turning Point Real Estate – 301-831-8232
email us: isell4u2@msn.com
Text Us: 301-401-5119