Posted To: MND NewsWire
The National Association of Realtors ® and on-line real estate marketplace have unveiled a new housing affordability model . The model uses data on mortgages, state-level income information, and real estate listings to derive two measures of availability and affordability. The data results first in an Affordability Distribution Curve which examines how many listings are affordable to buyers in a particular income percentile. The second measure, the Affordability Score, is a calculation equal to twice the area below the Affordability Distribution Curve on a graph. Confusing, especially without seeing the graph , but we trust it is enough to know going forward that this number will vary between zero and two. A score of one or above indicates a market where homes for sale are more affordable...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
from Mortgage News Daily http://ift.tt/2lqxESe
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