Rising Incomes in 2018 Boost Home Affordability in US

According to the National Association of Home Builders/Wells Fargo Housing Opportunity Index released this week, strong U.S. wage growth more than offset an increase in mortgage interest rates to boost nationwide housing affordability in the first quarter of 2018. In all, 61.6 percent of new and existing homes sold between the beginning of January and end of March were affordable to families earning the U.S. median income of $71,900. This is up from the 59.6 percent of homes sold that were affordable to median-income earners in the fourth quarter.

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Source: World Property Journal