Housing affordability improved in the second quarter
Housing affordability is being propped up by rising incomes and low mortgage rates, according to the latest edition of the National Association of Home Builders/Wells Fargo Housing Opportunity Index.
The second quarter saw a quarter-point drop in interest rates that helped to make housing more affordable, the index noted. From the start of April until the end of June, 59 percent of new and existing homes on the market were tagged as being “affordable” to families earning a median income of $68,000 per year.
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