Housing Affordability on the Rise

Housing affordability has continued its increase in August.  According to industry experts nationwide housing affordability during the second quarter of 2009 remained around the highest level since the series began 18 years ago.

The Wells Fargo Housing Opportunity Index (HOI) showed 72.3% of all home sales in the second quarter were affordable to average middle class Americans. “The increase in affordability-along with the $8,000 federal tax credit for home buyers is stimulating demand, particularly among young, first-time buyers,” said NAHB Chairman Joe Robson.

So where is the most affordable place to live in America? Indianapolis is considered to be the nation’s most affordable city to live in America.  Indianapolis has top the list for 16 consecutive quarters.