According to National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI) the housing affordability of new and existing homes slid from 69.3 percent to 64.5 percent for Americans earning a medina income of $64,400 per year. The rise in mortgage rates and housing prices are primarily to blame. Of the home recently sold, 65 percent were affordable to median income earners.. tied as The United States’ most affordable major housing markets were both Indianapolis-Carmel, IN and Syracuse, N.Y. For the last four quarters, San Francisco-San Mateo-Redwood City, CA has been the least affordable, with just 16 percent of sold homes being affordable to the median income earners of that area.
Read the full article here: Housing Affordability Continues to Slide in Third Quarter