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Article: Drop in median home price raises September Housing Affordability Index.
- Article from:
- PR Newswire
- Article date:
- October 31, 1989
CopyrightCOPYRIGHT 1989 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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DROP IN MEDIAN HOME PRICE RAISES SEPTEMBER HOUSING
AFFORDABILITY INDEX
WASHINGTON, Oct. 31 /PRNewswire/ -- Housing affordability conditions improved in September, due primarily to a lower median existing-home price and stable mortgage rates, according to the National Association of Realtors.
NAR's Housing Affordability Index, which tracks monthly changes in home buying ability, measured 104.7 in September, up from 102.8 in August. At 104.7, the index shows that a family earning the national median income of $33,248 for September had 104.7 percent of the income needed to qualify for conventional financing covering 80 ...