Housing most affordable in 23 years

Dated: 02/18/2013

Views: 356

In 1989 the Median Home Price in the US was $94,000.  The Mortgage Interest Rate was 10%, making the monthly Principle and Interest payment on that house $825. 

In 2012 the Median Home Price in the US was $176,000.  The mortgage interest rate was 3.4%, making the monthly payment for principle and intereste on that house $626.

That makes housing affordabilty the best in 23 years!  The economy is better, although we still need to add more jobs, the election is over and buyers are off the fence.  The market is HOT!  

Call me for a step by step list of how to buy a home. 

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