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Syracuse, NY tops national housing affordability chart for second straight quarter

May 14, 2015
Lower interest rates and home prices contributed to a solid boost in nationwide affordability in the first quarter of 2015, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunity Index (HOI). 
 
For the second straight quarter, Syracuse, NY remained the nation’s most affordable major housing market, as 95.6 percent of all new and existing homes sold in the first quarter of 2015 were affordable to families earning the area’s median income of $68,500. Elmira, NY was at the top of the affordability chart for smaller housing markets. 
 
New York-White Plains-Wayne, NY-NJ was one of the major metros at the bottom of the affordability chart. 
 
In all, 66.5 percent of new and existing homes sold between the beginning of January and end of March were affordable to families earning the U.S. median income of $65,800. This is up from the 62.8 percent of homes sold that were affordable to median-income earners in the fourth quarter.
 
Click here to read the entire NAHB press release.
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New York State home sales set second quarter record

The New York State housing market set a record high for second quarter home sales, reaching 32,444 homes sold. The second quarter statewide median sales price of $245,000 represents an increase of 6.5 percent from the 2016 second quarter. Click here to read more.

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