According to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI) the nationwide housing affordability jumped 10% during the first quarter of 2009, the highest level since the series began 18 years ago. The HOI showed that 72.5% of all new and existing homes sold in the first quarter of the year were affordable to families earning the national medium income of $64,000. The affordability index for the first quarter of 2008 was just 53.8%.
See entire article here: Housing Affordability Surges to Highest Level in 18 Years | RISMedia
