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Home Affordability Index Indicates Housing Most Affordable in Over 40 years

Dennis Norman

If there is a silver lining to the lousy real estate market we’ve witnessed over the past 3 years, maybe this is it….housing affordability!

According to the Beacon Economics Home Affordability Index, homes selling in August were at their most affordable level sinde data became available over 40 years ago (1969). The [...]

Will renting become the next American Dream? Could it create a new niche?

Increasing home prices brings affordability index in June down;
Still affordable though, especially in the Midwest

Dennis Norman

By: Dennis Norman

The National Association of REALTORS(R) has been reporting and tracking a “Housing Affordability Index” since January 1989. The index looks at whether or not an average family (an income equal to the median income) can qualify for a loan to buy a median-priced home.

The Housing Affordabiity Index for [...]

The market continues to show signs of life- Pending home sales up 4 months in a row

By: Dennis Norman

Lawrence Yun, Chief Economist, NAR

We continue to see some encouraging data on the real estate market showing that buyers may be gaining some confidence in the market.  To this point, the  National Association of REALTORS(R)  Pending Home Sales Index Report for May showed a very modest increase of 0.1% on the index, over [...]

Pending home sales index jumps in April: Third month in a row sales have increased

By: Dennis Norman

Lawrence Yun, Chief Economist, NAR

Today the National Association of REALTORS(R) issued their Pending Home Sales Index Report for April which showed a significant increase of 6.7% on the index, over March. April makes the third month in a row the index has increased.

Lawrence Yun, NAR chief economist, said “buyers [...]

Homes are more affordable to buy than ever! So where are the buyers?

By: Dennis Norman

The National Association of REALTORS(R) has been reporting tracking a “Housing Affordability Index” since January 1989.  The index looks at whether or not an average family (an income equal to the median income) can qualify for a loan to buy a median-priced home. 

The Housing Affordabiity Index for January was at the [...]