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Syracuse and Binghamton top national affordability charts for fourth quarter 2015

Feb 19, 2016
Syracuse, NY was rated the nation’s second-most affordable major housing market in the fourth quarter of 2015, while Binghamton, NY claimed the top spot for most affordable small housing market, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunity Index (HOI). 
 
In all, 63.3 percent of new and existing homes sold between the beginning of October and end of December were affordable to families earning the U.S. median income of $65,800. This is up from the 62.2 percent of homes sold that were affordable to median-income earners in the third quarter.
 
The national median home price fell from $231,000 in the third quarter to $226,000 in the fourth quarter. Meanwhile, average mortgage rates edged lower from 4.18 percent to 4.09 percent in the same period. 
 
To read the entire NAHB press release, click here.
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