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Article: Favorable conditions spur increase in housing affordability index. (National Association of Realtors' Housing Affordability Index)
- Article from:
- PR Newswire
- Article date:
- December 3, 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 CONDITIONS SPUR INCREASE IN HOUSING AFFORDABILITY INDEX
WASHINGTON, Dec. 3 /PRNewswire/ -- Declines in the median home price and average interest rate and an increase in the median family income lifted the National Association of Realtors' Housing Affordability Index in October to its highest point in more than two years, 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 113.4 in October, up from 110.8 in September. At 113.4, the index shows that a family earning the national median income of $35,353 in October had 113.4 percent of ...