Housing Affordability Index July 2009 - National Association of Realtors

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					NATIONAL ASSOCIATION OF REALTORS® Housing Affordability Index
Median Priced Existing Single Family Home 221,900 217,900 196,600 Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun r Jul p 208,900 201,900 190,300 185,700 179,900 175,000 164,200 167,900 169,700 166,000 174,600 181,900 178,300 Mortgage Rate* 6.58 6.52 6.15 6.48 6.53 6.22 6.23 6.26 5.59 5.21 5.12 5.14 4.96 4.95 5.16 5.34 Monthly P&I Payment 1131 1104 958 1,054 1,024 934 913 887 803 722 731 740 710 746 795 796 Payment as a % of Income 23.2 21.6 18.5 20.4 19.9 18.2 17.8 17.3 15.7 14.1 14.3 14.5 14.0 14.7 15.7 15.8 Median Family Income 58,407 61,355 62,030 61,965 61,836 61,707 61,579 61,451 61,323 61,314 61,185 61,056 60,927 60,799 60,671 60,543 Affordability Indexes Qualifying Income** 54,288 52,992 45,984 50,592 49,152 44,832 43,824 42,576 38,544 34,656 35,088 35,520 34,080 35,808 38,160 38,208 Composite 107.6 115.8 134.9 122.5 125.8 137.6 140.5 144.3 159.1 176.9 174.4 171.9 178.8 169.8 159.0 158.5 Fixed 107.1 115.7 134.5 121.7 125.1 137.3 140.5 144.2 N/A* 177.2 174.6 172.1 179.0 169.8 158.6 158.1 ARM 109.6 117.9 140.0 129.4 134.1 143.3 141.6 149.6 N/A* N/A* N/A* N/A* N/A* N/A* N/A* N/A*

Year 2006 2007 2008 2008 2008 2008 2008 2008 2008 2009 2009 2009 2009 2009 2009 2009

Note: Regional data are currently not available.

*Mortgage rates are not available **Based on a 25% qualifying ratio for monthly housing expense to gross monthly income with a 20% down payment. ***Effective rate on loans closed on existing homes - Federal Housing Finance Board.

p Preliminary r Revised

©2009 NATIONAL ASSOCIATION OF REALTORS®


				
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Description: The National Association of Realtors Housing Affordability Index for July 2009