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Syracuse among nation’s most affordable major housing markets; housing affordability dips in third quarter 2014

Nov 13, 2014
Firming home prices in markets across the country contributed to a slight dip in nationwide housing affordability in the third quarter of 2014, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunity Index. 

Syracuse, NY was again among other major U.S. housing markets at the top of the affordability chart for the third quarter. New York-White Plains-Wayne, NY-NJ ranked near the bottom of the affordability chart.

In all, 61.8 percent of new and existing homes sold between the beginning of July and the end of September were affordable to families earning the U.S. median income of $63,900. This is down from the 62.6 percent of homes sold in the second quarter. The national median home price increased from $214,000 in the second quarter to $221,000 in the third quarter. 

To read the entire NAHB press release, click here.
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