Florida Real Estate Market | The Numbers That Drive Real Estate: Affordability
Posted on July 31, 2009
Filed Under Florida Real Estate Market Update | No Comments yet, your thoughts are welcome
We continue our installments of the Keller Williams report: The Numbers That Drive Real Estate, looking at Affordability.
Affordability – % of Income : The percentage of a median family’s income required to make mortgage payments on a median-priced home.
Housing affordability condition remained extremely favorable for home buyers.
The median mortgage payment now consumes 15% of family income instead of 19% a year ago.
According to Lawrence Yun, NAR chief economist, “Historically low mortgage interest rates clearly drew buyers into the market, and housing remains very affordable even with a recent uptick in rates.”
Check back for the next installment in this series: Support for Economy.
Jennifer Mackay
850-774-6582
www.jennifermackay.com
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Author : Jennifer Mackay - Posts:280
Jennifer Mackay is an award winning real estate agent and Keller Williams team leader in the Panama City Florida area. Her website: Panama City Real Estate provides guidance, information and free buying and purchasing features for registered visitors. Follow: @realtorjennifer | Facebook
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