On Nov. 27, the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI), released its third quarter 2007 findings naming Indianapolis the most affordable major market for the ninth consecutive time. Meanwhile, nationwide housing affordability rose on a year-over-year basis but was down slightly for the quarter due to higher mortgage rates.
According to the index, 87.5 percent of homes sold in Indianapolis in the third quarter were affordable to families earning the area's median household income of $63,800. One smaller metro market (fewer than 500,000 people) outranked all others in terms of housing affordability during the third quarter. This was Kokomo, Indiana, where 90.5 percent of all homes sold in the period were affordable to families earning that area's median household income of $59,700. Click here for more detail.
Bruce & Justine Bright
THE BRIGHT Side of Real Estate
Our Website: www.BrightSideTeam.com
Home Search Site: www.IndyHomeSearcher.com
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