Housing Affordability Index Hits Record High

WASHINGTON- March 7, 2012- Housing affordability conditions have reached the highest level since record-keeping began in 1970, according to the National Association of Realtors. (NAR)

NAR’s Housing Affordability Index rose to a record high 206.1. January, based on the relationship between median home price, median family income and average mortgage interest rate. The higher the index, the greater the household purchasing power.

Singles Take Up 32 Percent of the Market

Real Estate studies are finding that more and more singles are buying in today’s market. Single women take up 20% of the market and single men take up 12% of the market. More single women buy homes on their own because they look at a house as more than just a place to live, but as a home.