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John Reinhardt Greater Atlanta & Surrounding Suburbs' Blog

By John J. Reinhardt | Agent in Johns Creek, GA

Ultra-low interest rates mixed with stabilizing home prices Dec 2011 John Reinhardt Solid Source Realty

Ultra-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, according to the latest National Association of Home Builders Housing Opportunity Index. 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. 'With interest rates at historically low levels and markets across the country beginning to improve, home ownership is within reach of more households than it has been for nearly two decades,' Bob Nielsen, chairman of the National Association of Home Builders, said in a statement. Source: National Association of Home Builders




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