Feb
27

Nationwide Housing Affordability is on the Rise

February 27, 2013

If you’ve been avoiding house hunting for a new home in Chicago because you thought you couldn’t afford it, the good news is that now may be the perfect time to find an affordable home.

According to the National Association of Home Buildersmove up buyers home shopping/Wells Fargo Housing Opportunity Index, 74.9 percent of all homes sold in October through December 2012 were affordable to families who earned the U.S. median income of $65,000.

Interest rates continue to remain at record-lows, and this factor combined with stabilizing home prices makes home ownership more of a reality and less of a dream for many Americans. The current median home price of all new and existing homes sold in the final months of 2012 was $188,000.  In the Chicago area, the median home price is currently $141,000. Curious as to who snagged the top housing affordability spot in the U.S.? The honor goes to Ogden-Clearfield, Utah, where 93.7 percent of all homes are affordable to families with a local median household income of $71,500.

About The Author

Read All Stories By Mitch Levinson

Mitch Levinson is the author of “Internet Marketing: The Key to Increased New Home Sales” published by BuilderBooks. He is an Internet marketing expert with expertise in search engine optimization, website development, email marketing, social media and CRM consulting services. He is known for creating effective programs that can be tracked through analytics to prove effectiveness and ROI. Mitch is founder and president of MLC New Home Marketing and MLC FlatFee Realty, as well as managing partner of mRELEVANCE, LLC, a Marketing, Communication, Interactive agency with offices in Chicago and Atlanta. He currently leads the Chicago team. A Multi-Million Dollar Sales Producer who earned an MBA in Computer Information Systems and eCommerce, he brings a unique perspective and experience to the field of real estate communications. Mitch combines the two interests in order to help home builders and developers gain a competitive advantage through the Internet and technology. When he isn’t behind a computer, he enjoys participating in sports and coaching his kids’ teams. Mitch resides in Arlington Heights, Ill., a northwest suburb of Chicago, with his family, which includes two rambunctious labs. Visit my Google+ profile.

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