- More people can afford to buy a home than at any time in history.
- The most recent composite H.A.I. value of 158.8 means that a family earning the median income has 158.8 percent of the income needed to qualify for a mortgage on a median-priced home. (In other words, a higher index number means housing is more affordable; a lower index number means housing is less affordable.)
- Median home prices have fallen dramatically over the past year, pushing affordability to its highest peak in nearly 40 years! (Source: NAR projection based on 5.2% mortgage interest rate).
- When prices begin to rise again, affordability will naturally decline.
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Housing Affordability Index