In last few years , it seems that we area always hearing negative news regarding the real estate market but now finally some good news is welcomed. According to National Association of Home Builders (NAHB) and Wells Fargo, for the 5thconsecutive quarter, nationwide housing is near its highest level of affordability in 19 years  Housing prices and interest rates are still low and 72.2% of both new and existing Homes for sale in york pa are affordable to families who earn $63,800 (the national median income).

According to Bob Jones, NAHB Chairman, “Today’s report is very encouraging because it indicates that homeownership continues its more than year-long trend of remaining within reach of more households than it has for almost two decades.”

“With interest rates still hovering at low levels, companies starting to hire new employees and the economy beginning to rebound, this should encourage more home buyers to enter the market and help further stabilize housing and the economy.”

The national median home price for the quarter was $175,000. The NAHB uses a rule that no more than 28% of take-home pay can be used toward housing.

As with all real estate, location is key – Indianapolis and Youngstown, Ohio led the nation in affordability – 95% affordable based on local median income, followed by Dayton, Ohio, Syracuse, New York and Grand Rapids, Michigan.

New York City remains one of the least affordable cities, regardless of income. Still, any good housing news these days is cause for optimism, and home ownership is more than just a dream for many American families whose employment picture is stable.

/kh