Industry News

Housing affordability improves in fourth quarter

Typical household had 132% of income needed for median-priced home
Published on Feb 3, 2005

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by CareyBot

Declining mortgage interest rates and rising family income improved housing affordability conditions in the fourth quarter, the National Association of Realtors reported today. NAR’s composite Housing Affordability Index was 131.8 during the fourth quarter of 2004, up 2.9 percentage points ...