Housing Affordability Falls Two Months, Suggesting That Real Estate Market is in Recovery
As the housing market recovers, we can expect gradually rising home prices, which will gradually lower housing affordability. In fact, the falling HAI over the last two months is a sign of a real estate market recovery.
Bottom Line: It's still the case that there has probably never been a better time to buy a house than right now, due to the combination of low home prices and low mortgage rates. And throw in a $8,000 tax credit for first-time home buyers, and it makes today's real estate market look even better.