Housing affordability still at record level

Even as some markets stabilize, affordability remains at highest level in more than 20 years

By Mary Beth Nevulis, HousingZone Contributing Editor | August 18, 2011
home price index, home sales, housing market, real estate market

Nationwide housing affordability during the second quarter of 2011 hovered for the 10th consecutive quarter near its highest level in the more than 20 years it has been measured, according to National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI) data released today.

The HOI indicated that 72.6 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. The affordability measure dipped slightly from the record high of 74.6 percent set last quarter but remained above the 70 percent threshold initially achieved in the first quarter of 2009.

For more information: www.nahb.org/reference_list.aspx?sectionID=135


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