According to the National Association of Home Builders/Wells Fargo Housing Opportunity Index, housing affordability rose to a record high during the fourth quarter of 2011, which means a home buyer’s purchasing power is greater than it ever has been before. The index showed that 75.9 percent of all new and existing homes sold in the fourth quarter were affordable to families earning the national median income of $64,200, according to the index. That marks the highest percentage recorded in the index’s 20-year history.
“While today’s report indicates that home ownership is within reach of more households than it has been for more than two decades, overly restrictive lending conditions confronting home buyers and builders remain significant obstacles to many potential homes sales, even with interest rates at historically low levels,” says Barry Rutenberg, chairman of the National Association of Home Builders.
Are you ready to buy a home in Southwest Florida? You should be! Homes in Naples, Bonita Springs and Estero FL are more affordable than ever. But you’d better hurry – inventory is shrinking and prices are rising! Just in Jan 2012, mid-priced homes in these areas surged up 29% in pricing, according to the Naples Area Board of Realtors (NABOR).
To find a John R. Wood Agent, click HERE.
To search for real estate in Naples, Bonita Springs, Estero or Marco Island, Florida, click HERE.
Tags: Bonita Springs homes, Bonita Springs real estate sales, Buying a Bonita Springs home, Buying a Home, Buying a Naples home, Buying a Southwest Florida home, housing affordability index Naples FL, Naples Florida, Southwest Florida real estate sales