Marathon Real Estate plus Homes For Sale by Robin Kluck

In-depth information about Buying or Selling Florida Keys Real Estate

Posted To: MND NewsWire

Housing affordability may be at an all time high according to the quarterly Housing Affordability Index for the first quarter of 2012. The index, issued this morning by the National Association of Realtors® (NAR), hit 205.9, the first time it has broken through 200 since recordkeeping began in 1970. The companion index measuring the ability of first-time buyers to purchase a home also set a record at 135.8. The index gauges the purchasing power of a household given the relationship between median home price, median family income, and the average mortgage interest rate. The higher the index, the greater the household purchasing power. The index assumes, at an interest rate of 4.18 percent, the median income family, earning just under $ 61,000 could afford a home costing $ 325,500 in the first…(read more)

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