Home affordability best since 1971
Home Affordability Best Since 1971
Home affordability is at 1971 levels, due to falling home prices and record low mortgage rates, pushing home ownership in reach to more families, according to the U.S. Department of Housing and Urban Development (HUD). Home owners are bringing in nearly double the median income they need to cover the cost of an average home, HousingPredictor reports.
"With interest rates at historically low levels and markets across the country beginning to improve, home ownership is within reach of more households,” Bob Nielsen, chairman of the National Association of Home Builders, said in a statement.
Home sales have been ticking up, according to recent reports by the National Association of REALTORS®, the National Association of Home Builders, as well as the Obama administration’s December Housing Scorecard.
This means that now is the best time since 1971 to purchase a home, as a residence or as investment property. Call me to find out more, plus ask about my VIP Buyer’s Guaranteee – I guarantee to save you $5000 on your next home purchase, or I will pay you $500!
\nBy: on February 2nd, 2012 Category: Uncategorized