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Article: Improved conditions boost housing affordability index. (National Association of Realtors' Housing Affordability Index)
- Article from:
- PR Newswire
- Article date:
- October 1, 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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IMPROVED CONDITIONS BOOST HOUSING AFFORDABILITY INDEX
WASHINGTON, Oct. 1 /PRNewswire/ -- Decreases in the average interest rate and the median home price and an increase in the median family income boosted the National Association of Realtors' Housing Affordability Index in August, the association reported today.
NAR's Housing Affordability Index, which measures the ability of a typical family to purchase a median-priced resale home, was 105.6 in August, up from 102.4 in July. At 105.6, the index shows that a family earning the national median income of $34,467 in August had 105.6 percent of the income needed to qualify for conventional financing ...