NAHB: Affordability Hits Lowest in 10 Years

Affordability has hit its lowest in 10 years, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunities Index (HOI) for the second quarter of 2018.
Approximately 57 percent of homes sold in the second quarter were affordable based on income (the median, nationally, is $71,900), down from roughly 62 percent in the first quarter. The median price was $265,000, weighed against the average mortgage rate, 4.67 percent.
The most affordable major metros in the seco