Keller Williams Realty - Loveland Colorado

Housing affordability is defined as the percentage of a median family’s income required to make mortgage payments on a median-priced home. Housing affordability continued at record levels in May (see chart below). The relationship between mortgage rates, home prices, and family income is the most favorable on record for buying. The home price-to-income ratio continues to remain well below the historical standard. Stabilizing home prices and rising interest rates are expected to reverse the recent affordability trend.

Now is a great time to buy. If you or someone you know is thinking about purchasing their next home then contact one of our Loveland real estate agents today!

Affordability as of May every year. Calculations assume a 20% down payment.
Source: National Association of Realtors

Source: Keller Williams Realty, Inc., “This Month in Real Estate,” released July 2011.