Housing affordability remains high

August 24, 2011 by
Filed under: General 

Housing affordability continued to be near record highs in the second quarter, hovering near its highest level in the 20-plus years it has been recorded, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index.

About 72 percent of all new and existing-homes sold in the second quarter of the year were affordable to families earning the national median income of $64,200, according to the index. The record high remains 74.6 percent, which was reached last quarter.

“At a time when home ownership is within reach of more households than it has been for more than two decades and interest rates are at historically low levels, the sluggish economy and the extremely tight credit conditions confronting home buyers and builders remain significant obstacles to many potential home sales,” says Bob Nielsen, chairman of the National Association of Home Builders. “That said, however, some housing markets across the country have stabilized and are beginning to show signs of a budding recovery.” Read More.

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2 Comments on Housing affordability remains high

  1. Daniel on Thu, 20th Oct 2011 3:20 PM

    2. How can I find the housing affordability index for each state, county, city, and etc. Is their a particular website where I can go to and type in town and have it give me a affordability index.

  2. hunt on Fri, 4th Nov 2011 8:43 PM

    3. You can check a few different resources including the following:
    NAR – http://realtors.org/research/research/housinginx
    US Census – http://www.census.gov/hhes/www/housing/hsgaffrd/hsgaffrd.html
    Dept of #s – http://www.deptofnumbers.com/affordability/kentucky/lexington/

    You can also try a Google search for specific terms of exactly the type of information you are looking for.

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