Housing Affordability Near Record Levels

According to the National Association of Home Builders/Wells Fargo Housing Opportunity Index, low interest rates mixed with stabilizing home prices continued to push housing affordability in the third quarter near its highest levels in more than two decades.  For the third quarter, 72.9 percent of all homes sold were affordable to families earning the national median income of $64,200, according to the index.  This marks the 11th consecutive quarter that the affordability measure was above 70 percent, prior to this it rarely was above 60 percent.