Housing Affordability Index Dips: A measure of...
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From Times Staff and Wire Reports
Housing Affordability Index Dips: A measure of the ability of the typical American family to buy a house fell slightly in January, reflecting both higher mortgage rates and home prices, a real estate trade group reported. The National Assn. of Realtors said its index fell to 104.2 in January, meaning that a family with a median income of $33,708 had 104.2% of the income needed to buy a median-priced existing home costing $96,200. The index had risen to 108.2 in December, the highest since January, 1989.
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