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Email9 reasons to be optimistic about housing
Plenty of good news has been coming in about housing lately. Here's a round-up.
3. Housing affordability at record levels
One benefit of this downturn is that housing affordability is near its highest level in more than twenty years. That means more long-term opportunity for remodelers as people get into houses they can actually pay for, unlike the boom years.
The NAHB/Wells Fargo Housing Opportunity Index indicated that a near-record 72.9 percent of all new and existing homes sold in the third quarter of the year were affordable to families earning the national median income of $64,200. The affordability measure rose slightly from the 72.6 percent set last quarter and has remained above the 70 percent threshold for 11 consecutive quarters.
More like this
- Survey: Affordability and increased living space top reasons to buy in 2010
- 2012 home building outlook: Builders largely optimistic about growth
- 2011 Remodeling Forecast: Three Reasons for Long-Term Optimism
- Americans maintain positive attitude about homeownership
- Federal housing scorecard: Housing market recovery still fragile
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