Homes Are Now Affordable
Tuesday, February 03, 2009 - By Gate Arty
I get asked all of the time . . . "have we hit the bottom of the real estate market yet?" In truth, I just don't know, but it seems that some buyers might think so. The National Association of Realtors reported today that the Pending Home Sales Index rose 6.3% to 87.7 in December from a revised reading of 82.5 in November. What do these numbers signify? Quite simply, homes are becoming more affordable to the home-buying public. NAR's House Affordability index rose 10.9% in December to 158.8, the highest since NAR began tracking affordability in 1970.
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