It’s a great time to be a house hunter. Almost everyone with a decent job and a good credit score can afford to buy in their home towns.
Over 72% of families making $63,800 a year, could afford to buy a home at some point in the first three months of 2010, according to a statement from the National Association of Home Builders (NAHB) and Wells Fargo.
The national median home price for the quarter was $175,000.
The NAHB says a home should be within means if a family is making the metro area’s median income and devotes no more than 28% of their take-home pay toward housing costs.
If you are currently renting a home but have longed wished to be a home owner now just might be the perfect time. Talk to a mortgage lender and/or realtor today to see if you can qualify for that dream house you’ve been waiting for.