HUD Homes Articles |
Falling home prices: The silver lining" />
Home prices continue to tumble across the country, making homes more affordable in most U.S. cities, according to a new report released Tuesday.
Nationally, 55% of homes sold from April through June were affordable to families earning the U.S. median income of $61,500, according to a quarterly report released Tuesday by the National Association of Home Builders (NAHB).
That’s up from 53.8% in the first quarter of 2008, and the most affordable home prices have been since the second quarter of 2004.
“Homes became more affordable because median income and interest rates remained about the same throughout the country, as home prices continued to fall,” said Gopal Ahluwalia, an NAHB economist.
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Tags: Falling, Home Prices, Silver Lining
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