23
Nov
10

Housing remains affordable

The U.S. housing markets stayed very affordable this past summer: 72.1 percent of all homes sold during the three months ended Sept. 30 were priced so reasonably that people earning the median household income could afford to buy them, according to an industry report.

One big factor enhancing affordability is the continued rock-bottom interest rates, which were at 4.32 percent by the end of September.

“With interest rates remaining at historically low levels, and house prices starting to stabilize, homeownership is within reach of more households than it has been for almost 20 years,” said NAHB Chairman Bob Jones, a home builder from Bloomfield Hills, Mich.

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