From our sister magazine Builder:
U.S. housing affordability increased in the fourth quarter of 2015, according to the Housing Opportunity Index report from the National Association of Home Builders and Wells Fargo.
In Q4 of 2015, 63.3 percent of all homes (including both new and existing) that sold on the market from October 2015 through the end of the year were affordable to families making the median income in the U.S. This is a 1.1 percent increase from the 62.2 percent posted in the third quarter, and a half percent up from the 62.8 percent recorded a year earlier. It is common that home affordability picks up in winter months, as a result of prices falling in a less active home buying environment.
Median home prices in the U.S. went down to $226,000 from the third quarter’s $231,000, but are still 5.1 percent up from the $215,000 of the fourth quarter in 2014. This is the fourth time in a row that the fourth quarter median home price has shown year-over-year growth since 2011.
Read the full story over at Builder.