Housing affordability rose to a record high during the fourth quarter of 2011, which means a home buyer’s purchasing power is greater than it ever has been before, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index.
The index showed that 75.9 percent of all new and existing homes sold in the fourth quarter were affordable to families earning the national median income of $64,200, according to the index. That marks the highest percentage recorded in the index’s 20-year history.
“While today’s report indicates that home ownership is within reach of more households than it has been for more than two decades, overly restrictive lending conditions confronting home buyers and builders remain significant obstacles to many potential homes sales, even with interest rates at historically low levels,” says Barry Rutenberg, chairman of the National Association of Home Builders.
At North Eastern Group Realty, we are prepared to assist our clients with their significant Fort Wayne real estate decisions. Our corporate commitment is to provide real knowledge, proven experience and professional, quality service. To search all Fort Wayne homes for sale or find a Fort Wayne REALTOR, visit our website at NorthEasternGroup.com.
North Eastern Group Realty is Fort Wayne’s largest independent real estate company located at 10808 La Cabreah Lane, Fort Wayne, IN 46845.
The American Red Cross saves lives every day by providing much need blood and platelets to local hospitals. They need your help! Please consider joining us at our office at 10808 La Cabreah Lane between 2 and 7pm on March 16 2012 to donate blood. Very friendly Red Cross representatives will be here to take your...
Real estate professionals who earn $100,000 or more per year show quite a few differences in how they do their job and the technology they use compared to real estate professionals who make $30,000 to $50,000 a year, according to a new survey conducted by InmanNext, a Web site operated by Inman News. Surveying about...