Affordability is Back!
April 10, 2009 by admin
Filed under Positive Real Estate
Affordability is back and that is moving home buyers off the homebuying fence.
- 55 million families-or half of all U.S. households-can afford today’s $200,000 median-priced new home (National Association of Home Builders (NAHB)
- A typical family today can purchase a house with $20,000 less in household income and save nearly $500 per month on their principal, interest, taxes and insurance. The number of households that can afford to purchase a home today is 55.4 million, compared with 38.4 million two years ago, according to figures compiled by NAHB.
- Single-family permits were up 11 percent in February, new and existing home sales also posted gains and the huge inventory backlog is being slowly whittled down.
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