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Housing Affordability Index (Composite) (COMPHAI)

2012-03: 204.3 Index   Last 5 Observations

Monthly, Not Seasonally Adjusted, Updated: 2012-05-11 1:46 PM CDT

Source: National Association of Realtors
Release: Monthly Housing Affordability Index
Notes:

Measures the degree to which a typical family can afford the monthly mortgage payments on a typical home.

Value of 100 means that a family with the median income has exactly enough income to qualify for a mortgage on a median-priced home. An index above 100 signifies that family earning the median income has more than enough income to qualify for a mortgage loan on a median-priced home, assuming a 20 percent down payment. For example, a composite housing affordability index (COMPHAI) of 120.0 means a family earning the median family income has 120% of the income necessary to qualify for a conventional loan covering 80 percent of a median-priced existing single-family home. An increase in the COMPHAI then shows that this family is more able to afford the median priced home.