Mortgage rates declined well into the 5 % range in the last month- best rates of 2008 and the most attractive since 2003. November median home sales price is around $175,000- down 19.2% from last year- this makes housing more affordable for the consumer. MAAR started tracking this affordability through the Housing Affordability Index (HAI).
Housing Affordability Index (HAI) has jumped 19 points in the last month and currently sits at 180. This is up 27.7% from December 2007, and the highest since HAI started tracking this data in 1990.
Low interest rates, abundant housing, affordability combined together make this a perfect buyer's market. Now is a great time to buy, call me about more information on this great opportunity.
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