Lower Mortgages Drive U.S. Housing Affordability to Highest Level in 3 Years

National Association of Home Builders | November 11, 2019

According to the recently released National Association of Home Builders / Wells Fargo Housing Opportunity Index, with U.S. mortgage rates at a three-year low and a healthy job market, housing affordability rose to its highest level in three years in the third quarter of 2019. In all, 63.6 percent of new and existing homes sold between the beginning of July and end of September were affordable to families earning the U.S. median income of $75,500. This is up from the 60.9 percent of homes sold in the second quarter of 2019 that were affordable to median-income earners and slightly higher than a first quarter 2019 reading of 62.6.

Spotlight

How does the White House compare to the average home?

Spotlight

How does the White House compare to the average home?

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