Latest News

New report shows housing affordability still high

Feb 02, 2016
Home prices may have been on the rise the last few years, but homes are still more affordable now than they were in pre-bubble years, according to the latest Mortgage Monitor Report released by Black Knight Financial Services. Households are using 21 percent of the national median income to pay a mortgage on a median-priced home. In 2000-2002, the average payment-to-income ratio was 26 percent, and in 2006, it was 33 percent. 
However, the report warns that if home prices continue to increase – as they have year-over-year for 43 consecutive months – the affordability picture in home ownership could start to change in two years. 
Learn more here.
Featured Content

Empire State housing market stays hot in January

New York State home sales remained strong to start the new year with 8,698 closed sales, falling just shy of the 2017 record for January, according to the annual housing market report released by the New York State Association of REALTORS. The January statewide median sales price of $266,000 represented an increase of 8.4 percent from a year ago. Click here to read more.