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Housing Affordability Holding Strong in Early 2013
Rose Quint / NAHB / May 14, 2013
Nationwide housing affordability held near historic highs in the first quarter of 2013, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI), at 73.7 percent, down slightly from 74.9 percent in the final quarter of 2012.
The HOI is the share of new and existing homes sold in a quarter affordable to a family earning the median income. An HOI of 73.7 means that 73.7 percent of all homes sold in the first three months of 2013 were affordable to families earning the national median income ($64,400).