"Indianapolis maintained its standing as the most affordable major U.S. housing market for a fourth consecutive time in the second quarter of 2006, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI), released today.
Meanwhile, nationwide housing affordability edged slightly downward as the median price of all homes sold in the period remained unchanged and a slight uptick was registered in the average mortgage rate.
'Today's HOI reading indicates that 40.6 percent of new and existing homes that were sold during the second quarter were affordable to families earning the national median income of $59,600,' said NAHB President David Pressly, a home builder from Statesville, N.C. 'This is just below the 41.3 percent of homes that were affordable to median-income earners in the first quarter and tied to the somewhat higher mortgage rates that prevailed in the April - June period.'"
Tuesday, August 22, 2006
Indianapolis Most Affordable Housing Market
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