Great news for housing market.
According to the Colorado Springs Real Estate Journal and the National Association of Home Builders/Wells Fargo Housing Opportunity index (HOI) released these figures last Monday.
The National housing affordability jumped 10% during the first quarter of 2009. The highest level since the series began 18 years ago.
The HOI showed that 72.5% of all new and exciting homes sold in the first quarter of 2009 were affordable to families earning the national median income for $64,000, up from 62.4% during the previous quarter and up from 53 .8% during the first quarter of 2008,
NAHB Chairman Joe Robson, a home builder form Tulsa, Okla. stated that the underlying increase in affordability are lower home prices and record low interest rates. Combined with the $8,000 federal tax credit for the
first time home buyers, consumers are beginning to return to the marketplace.
According to the Colorado Springs Real Estate Journal and the National Association of Home Builders/Wells Fargo Housing Opportunity index (HOI) released these figures last Monday.
The National housing affordability jumped 10% during the first quarter of 2009. The highest level since the series began 18 years ago.
The HOI showed that 72.5% of all new and exciting homes sold in the first quarter of 2009 were affordable to families earning the national median income for $64,000, up from 62.4% during the previous quarter and up from 53 .8% during the first quarter of 2008,
NAHB Chairman Joe Robson, a home builder form Tulsa, Okla. stated that the underlying increase in affordability are lower home prices and record low interest rates. Combined with the $8,000 federal tax credit for the
first time home buyers, consumers are beginning to return to the marketplace.Nicole Tussey
A Real Estate professional
"Committed To Your Journey Home"
