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Tag Archives: Housing Affordability

NAHB: Home Affordability Little Changed in Q1

The most recent Housing Opportunity Index (HOI) from the National Association of Home Builders (NAHB) and Wells Fargo shows home affordability slipping slightly in the first quarter. According to the index, 73.7 percent of new and existing-homes sold in the first quarter of this year were affordable to families earning the U.S. median income, a decline from 74.9 percent in Q4 2012. Despite the decrease, NAHB Chairman Rick Judson noted the HOI has still stayed high over the past four years.

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NAR: National Median Price Posts Greatest Increase Since 2005

The latest quarterly report from the National Association of Realtors (NAR) shows home purchasing power remained high in the first quarter even as median prices continued their upward trend. Nationally, the median existing single-family home price was $176,600, up 11.3 percent year-over-year--the strongest yearly price increase since the fourth quarter of 2005, when the national median price jumped 13.6 percent over the prior year.

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NAHB Touts Affordability of Newer Homes

The National Association of Home Builders (NAHB) wants people to know they may not be saving money by purchasing older homes. NAHB compared the cost of owning a home built before 1960 to the cost of homes built since 2008 and found that after taxes, the total cost of owning a home in its first year is about 23 percent more for an equally-priced older home.

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ZipRealty Ranks Most, Least Affordable Metros of 2013

ZipRealty analyzed two years' worth of multiple listing service data and Census Bureau information to come up with a list of the top 10 most affordable housing markets of 2013. The coveted title of "Most Affordable Market of 2013" goes to the Dallas-Fort Worth area, where the median sales price is 5.27 times the median household income. Meanwhile, metros located on or close to the coasts make up the list of least affordable areas. Washington, D.C., takes the top spot, with the average median price costing 16.78 times the average household income.

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