One Cool Thing – Home Prices on the Uptick
The Lawhead Team would like to share the latest One Cool Thing from the CAR about housing prices for would-be buyers.
With interest rates and home prices rising in the first half of 2015, housing affordability remains an issue for many would-be buyers.
- 30 % – The percentage of buyers who could afford to purchase a median-priced, existing single family home declined in the second quarter.
- $485,100 – Statewide median-priced, existing single family home in the second quarter of 2015.
- $96,160 – The minimum annual income needed to qualify for the purchase of a median-priced, existing single-family home.
- $2,404 – The monthly payment, including taxes and insurance, on a 30-year, fixed-rate loan.*