According to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI), 74.1 percent of all homes sold nationwide in Q3 2012 were affordable to families who earned the U.S. median income of $65,000, up from 73.8 of homes sold in the second quarter that were affordable to median income earners. NAHB Chief Economist David Crowe, noting mortgage rates are at record lows, says, “For families who qualify for a mortgage at such favorable terms, the outlook is brightening — but being able to afford a home and getting approved for a mortgage are still two different things in the current marketplace.” The most affordable major housing markets in the nation are, in order: Ogden-Clearfield, Utah; Youngstown-Warren-Boardman Ohio-Penn.; Indianapolis-Carmel, Ind.; Lakeland-Winer Haven, Fla.; and Toledo, Ohio. As MHProNews has learned, the title of least affordable housing market in the nation for 18 consecutive quarters continues to be New York-White Plains-Wayne, N.Y.-N.J.
