Homes are getting more affordable. Families earning the median household income of $61,500 could afford to buy 53.8 percent of all new and existing homes sold nationwide during the first three months of 2008, according to the Housing Opportunity Index released this week by Wells Fargo and the National Association of Home Builders.
That’s up from 44 percent during the first three months of 2007 and the most affordable housing has been since the second quarter of 2004.
This trend is a result of home prices falling off record highs, inventory levels increasing and sellers becoming more and more motivated to sell and willing to discount their prices.
All good news for investors.
Posted by Carter Brown
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