Nationwide housing affordability hit a new record high in the US for a second consecutive quarter in the first three months of this year, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI). Source: Wood & Panel America
Tight lending conditions continue to pose a major obstacle to many prospective home buyers.
The latest HOI data reveal that 77.5 per cent of all new and existing homes that were sold in this year’s first quarter were affordable to families earning the national median income of $65,000.
This beats the previous record set in the final quarter of 2011, when 75.9 percent of homes sold were affordable to median-income earners.
