Housing Affordability Near Record-High for Sixth Consecutive Quarter
By Carrie Bay | 08/24/2010
Bolstered by favorable interest rates and low home prices, housing affordability in the second quarter remained near its highest level of the past two decades, according to an industry index developed by the National Association of Home Builders and Wells Fargo. The study found that 72.3 percent of all new and existing homes sold in the second quarter of 2010 were affordable to families earning the national median income of $64,400. Syracuse, New York was the most affordable major housing market. New York City was the least.
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