October, 2009
Bolstered by low prices and interest rates, national housing affordability on the NAHB/Wells Fargo Housing Opportunity Index (HOI) continued in this year’s second quarter to hover near its highest level since the series began 18 years ago.
The HOI showed that 72.3 percent of all new and existing homes sold in the second quarter on 2009 were affordable to families earning the national median income of $64,000, down from the record-high 72.5 percent during the previous quarter and up from 55.0 percent during the second quarter 2008.
The original article can be found in the October 2009 issue of Builder Magazine.