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Article: Favorable housing conditions keep affordability index stable. (National Association of Realtors' Housing Affordability Index)
- Article from:
- PR Newswire
- Article date:
- July 2, 1990
CopyrightCOPYRIGHT 1990 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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FAVORABLE HOUSING CONDITIONS KEEP AFFORDABILITY INDEX STABLE
WASHINGTON, July 2 /PRNewswire/ -- An increase in the median family income along with declines in interest rates and the median home price, kept the National Association of Realtors' Housing Affordability Index in the good range during May.
NAR's Housing Affordability Index, which measures the ability of a typical family to purchase a median-priced resale home, was 105.6 in May, up from 104.3 in April. At 105.6, the index shows that a family earning the national median income of $34,142 in May had 105.6 percent of the income needed to qualify for conventional financing covering 80 percent of ...