Housing Affordability Surges To Highest Level In 18 Years While Builder Confidence Continues To Rise
Single-family home builder's confidence in the market improved in the month of May according to the National Association of Home Builders/Wells Fargo (NAHB) Housing Market Index (HMI), released today; and for good reason. Housing affordability jumped ten percent in the first quarter of 2009 to its highest level in 18 years according to the NAHB Housing Opportunity Index (HOI) also released today. Lower home prices, record low interest rates and an $8000 federal tax credit for first time home buyers have contributed to these numbers. Sandusky Ohio topped the list as the most affordable housing market in the country. Indianapolis topped the list as the most affordable major housing market in the country. A number of other Ohio markets were high on the list including Youngstown, Warren, Akron, Mansfield, Springfield and Canton-Massillon. See complete list-> http://bit.ly/ff3Of
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