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Housing affordability condition remains extremely favorable. NAR's Housing Affordability Index, while declining modestly in June, was still the sixth-highest index on record dating back to 1970. With a 20% down payment and 25% of gross income committed to mortgage principal and interest, a median-income family earning $60,700 could now afford a home costing $289,100 at the current interest rate, well above the median existing-home price of $181,800.
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Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
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