OFFICE:   CELL:
 Welcome to the Affordable-UtahHousing.com Blog

2013-02-25 07:40:07
Home Ownership Is Within More Americans' Reach

Low interest rates helped keep housing affordability high in the final quarter of 2012, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index released on Thursday. 

Nearly 75 percent of homes sold between October and the end of December were affordable to families earning the median income of $65,000.

'The most recent housing affordability data should be encouraging to many prospective home buyers, because it shows that home ownership remains within reach of median-income consumers even as most local markets appear to be on a recovery path,' says NAHB Chairman Rick Judson.

The median price of all new and existing homes sold in the fourth quarter of 2012 was $188,000. 


'It is noteworthy that affordability remains historically high thanks to favorable mortgage rates even as national home price indexes show some rise in values,' says NAHB Chief Economist David Crowe. 

The nation’s most affordable major housing market? For the second-consecutive quarter, it's Ogden-Clearfield, Utah, according to the index. Nearly 94 percent of all home sales there were affordable to families earning the median household income of $71,500. Other affordable major housing markets were Dayton, Ohio; Indianapolis-Carmel, Ind.; Lakeland-Winter Haven, Fla.; and Syracuse, N.Y.

Meanwhile, the most expensive major housing market remains San Francisco-San Mateo-Redwood City, Calif. Twenty-eight percent of homes sold in San Francisco during the fourth quarter were affordable to families earning the area’s median income of $103,000, according to the index. 

 

 

Source: National Association of Home Builders

 
Blog Archive
2014-07-30 09:29:41
Provo/Salt Lake Make Best Cities for Career Growth

2014-07-29 09:25:55
Increase in FHA Fees Challenges Housing Market

2014-07-28 08:28:08
Residential Recycled Buildings 'Enjoy New Life'

2014-07-26 08:41:52
Do They Impact a Property’s Desirability?

2014-07-25 08:01:27
Utah Best Purchase Market for Millennial Homebuyer

2014-07-24 08:06:57
Real Reason for an Inventory Shortage?

2014-07-23 08:07:01
Threat to Quit FHA Seen as Pressure Move on Rules

2014-07-22 09:34:30
Home Sales are Catching Up to 2013's Highs

2014-07-21 08:07:04
Housing Starts Sink to Slowest in 9 Months

2014-07-16 09:41:36
Rates May Rise Sooner Than Expected

2014-07-15 07:26:25
Homeowner May Decide to keep their Home-Rent it

2014-07-14 07:45:30
Mortgage Rates Post Slight Bump Up

2014-07-12 09:48:30
Foreign Buyers Up in U.S. Housing, Who's Coming?

2014-07-11 08:47:08
Tiny Houses Offer Potential Sparking Big Movement

2014-07-10 08:07:08
Housing Recovery Downshifts From Last Year's Pace

2014-07-09 08:11:21
States Experiencing Declines Greater than 50 %

2014-07-08 07:39:43
More Markets See Price Increases

2014-07-07 08:20:54
Best Single Family Rental Markets

2014-07-05 08:59:06
'HAWK' Pilot Program for new homebuyers

2014-07-03 09:31:01
Renters Feel the Pinch

2014-07-02 07:48:04
Credit Scores May Soon Reflect Rental Payment

2014-07-01 06:45:46
Homebuyers Can Breathe a Sigh of Relief

2014-06-30 07:43:32
Foreclosure Program Extended to 2016

2014-06-28 07:39:13
Builder Eyes Home-Rental Market

2014-06-27 08:32:06
Mortgage Rates Slide

Click here to see ALL articles.


Comment on this Article

Your Name:
Your Email:
Comments:
Verify:  Please enter the numbers shown to help eliminate spam.