March 2012 notes.

According to the NAR (National Association of Realtors), the housing affordability index has reached the highest level since recordkeeping began in 1970. The index rose to a record high 206.1 in January 2012. The higher the number, the greater the household purchasing power!
This is the first time the index has ever broken 200, which means the typical family has roughly double the income needed to purchase a median priced home. NAR President Moe Veissi, broker owner of Veissi & Associates in Miami, says “For buyers who can qualify for a mortgage, now is a very good time to become a homeowner.”

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