Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

Housing Affordability Hovers Near Record-High Level
Nov 23, 2009
 Printable format
 Email this Article
 Search

U.S. housing affordability hovered for the third consecutive quarter near its highest level since the series was first compiled 18 years ago, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI).

The HOI showed that 70.1% of all new and existing homes sold in the third quarter of 2009 were affordable to families earning the national median income of US$64,000, down slightly from a near-record 72.3% during the previous quarter and up from 56.1% during 3Q 2008.

Indianapolis was the most affordable major housing market in the country during the third quarter, a position the metro area now has held for 17 consecutive quarters. Almost 95% of all homes sold were affordable to households earning the area's median family income of $68,100.

Also near the top of the list of the most affordable major metro housing markets were Youngstown-Warren-Boardman, OH-PA., and three Michigan metropolitan areas, Detroit-Livonia-Dearborn; Warren-Troy-Farmington Hills; and Grand Rapids-Wyoming.

Five smaller housing markets posted even higher affordability scores than Indianapolis, with Kokomo, IN outscoring all others. There, 96.7% of homes sold during the third quarter of 2009 were affordable to median-income earners. Other smaller housing markets near the top of the index included Springfield, OH; Bay City, MI.; Mansfield, OH; and Elkhart-Goshen, IN.

New York-White Plains-Wayne, N.Y.-N.J., was the nation's least affordable major housing market during 3Q 2009, the New York metro area's sixth consecutive appearance at the bottom of the list. Slightly more than 19% of all homes sold during the third quarter were affordable to those earning the New York area's median income of $64,800.

The other major metro areas near the bottom of the affordability scale included San Francisco; Honolulu; Santa Ana-Anaheim-Irvine, CA; and Nassau-Suffolk, NY.

San Luis Obispo-Paso Robles, Calif. was the least affordable of the smaller metro housing markets in the country during the third quarter. Others near the bottom of the chart included Ocean City, NJ; Santa Cruz-Watsonville, CA; Santa Barbara-Santa Maria-Goleta, CA; and Brownsville-Harlingen, TX.

Back to Daily News

 

Daily News

...........................................................

Dec 17, 2014: Bosch names Kenny head of marketing

Dec 17, 2014: Multifamily Production Index off its peak, but still positive

Dec 17, 2014: AHRI launches two new certification programs

Dec 16, 2014: Ar├želik awarded for fridge with integrated ice-cream bowl

Dec 16, 2014: Report: appliance segment at the top of 2014 reshoring list

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

November 2014: Appliance Magazine Market Insight Annual Subscriptions
November 2014: U.S. Appliance Industry: Market Value, Life Expectancy & Replacement Picture 2014
October 2014: Portrait of the European Appliance Industry
September 2014: Appliance Industry Focus: HVAC




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Plastics Today | Powder Bulk Solids | Canon Trade Shows