Industry NewsMarkets & Economy

Near-record affordability in real estate

California metros among least affordable areas in U.S.
Published on Sep 8, 2010

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by CareyBot

The share of homes that families making the national median income could afford to buy remained above 70 percent for the sixth quarter in a row, according to the latest National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI).

Nationally, the HOI was at 72.3 percent in the second quarter, unchanged from the same time period last year and close to the index's record-high 72.5 percent, set in first-quarter 2009.

The HOI tracks the share of homes sold in a particular area that would have been affordable to a family earning the local ...