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Syracuse, Elmira among most affordable housing markets

Aug 14, 2015
Two New York State housing markets - Syracuse and Elmira - were found to be among the most affordable housing markets in the nation during the 2015 second quarter, according to the latest National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunity Index.

After two consecutive quarters as the most affordable major housing market in the country, Syracuse placed second in current index.

Elmira was among the tops for small market affordability in the second quarter, according to the report.

While increasing home prices were found to cause a modest drop in affordability nationally, NAHB Chief Economist David Crowe remained optimistic about the balance of the year. "Low mortgage rates, pent-up demand and continued job growth should contribute to a gradual, steady rise in housing through the year," he said.

Read more about the second quarter index here.
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