Homes Less Affordable in Second Quarter
Filed under: Economy, Real Estate
Rising home prices in U.S. metropolitan areas pushed down the second-quarter affordability index, according to the latest data from the National Association of Home Builders (NAHB)/Wells Fargo housing opportunity index. Some 73.8% of new and existing homes sold in the second quarter were affordable for families earning the median U.S. income of $65,000. In the first quarter the affordability index hit a record high of 77.5% of homes affordable to median income families.
The NAHB’s chairman…
Homes Less Affordable in Second Quarter originally appeared on DailyFinance.com on 2012-08-14T11:02:00Z.
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