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Home Buyers Gaining Ground As Home Affordability Hits Record High
Date:9/10/2013

Twin Cities, Minnesota (PRWEB) September 10, 2013

Metropolitan areas to the happy tune of 291 now qualify as improving housing markets, according to the National Association of Home Builders/First American Improving Markets Index (IMI) just released. Jumping above August's report, home buyers in 44 housing markets joined the ranks, making home affordability hit record highs since the index was initiated two years ago. Buying a Twin Cities home is still affordable, in spite of rising mortgage rates and home prices.

"Regardless of where you want to live, how much you earn or what type of home you are searching for, before you even learn how much the seller is asking for a home you're interested in, it is good to know what you can afford," says Jenna Thuening, owner of Home Destination.

Residents in many of Twin Cities housing communities are now dedicating more of their paychecks toward housing than in previous years, yet with the strong benefits of homeowners and rising home values, buying a home is still very affordable, a new Center for Housing Policy study concludes.

In the Twin Cities region, strong home seller and home buyer activity is spurs home values upward. According to the Minneapolis Area Association of Realtors (MAAR) the increase in hone prices sellers are gaining is enabling them to

Source: PRWeb
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