Higher home values chip away at affordability

chipping awayDaily Real Estate News

Another housing index confirms that housing affordability suffered in the second quarter, as home prices in many markets were on the rise.

Sixty-three percent of new and existing homes sold between the beginning of April and end of June were affordable to families earning the median income of $65,800 – down from nearly 67 percent in the first quarter, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index.

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