Industry News

NAHB index: affordability ranges from Kokomo to Los Angeles

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About 43.9 percent of new and resale homes sold in the first quarter were affordable to families earning the national income, according to the latest Housing Opportunity Index data released this week by the National Association of Home Builders trade group and Wells Fargo. That compares to 41.6 percent of homes sold in fourth-quarter 2006 and 41.3 percent of homes sold in first-quarter 2006. An estimated 93.5 percent of homes in Kokomo, Ind., were affordable for median-income families, according to the report, making it the most affordable metro area in the country. Next on the list was Lansing-East Lansing, Mich., at 91.1 percent; followed by Lima, Ohio, at 90.4 percent; Saginaw-Saginaw Township North, Mich., 89.6 percent; Bay City, Mich., 89.5 percent; Mansfield, Ohio, 89.1 percent; Indianapolis-Carmel, Ind., 89 percent; Youngstown-Warren-Boardman, Ohio-Pa., 89 percent; Dayton, Ohio, 87.9 percent; and Flint, Mich.; 84.9 percent. The Indianapolis-Carmel, Ind., and Youngstown-Warren-Bo...