Home Affordability Reaches An All-Time High
Home affordability moved higher last quarter, boosted by the lowest mortgage rates in history, a rise in median income, and slow-to-recover home prices.
Home affordability moved higher last quarter, boosted by the lowest mortgage rates in history, a rise in median income, and slow-to-recover home prices.
The National Association of Home Builders reports a Q2 2011 Home Opportunity Index reading of 72.6. Nearly 3 of 4 homes sold last quarter were affordable to households earning the national median income of $64,200.
The National Association of Home Builders reports that Q1 2011 Home Opportunity Index reached an all-time high for the second straight quarter last quarter.
it's a fantastic time to be a Philadelphia home buyer where 66.3 percent of all new and existing homes sold in the third quarter were affordable
With home prices holding firm and mortgage rates still dropping, home affordability is reaching new heights.
With home prices still relatively low and mortgage rates trolling near their all-time best levels, home affordability is extraordinarily high in most U.S. markets.