Reports Say, “Yes, You Can Buy a Huntsville Home for Sale!”
If you’ve been looking at your finances to see if you can afford a Huntsville home for sale, or a home in any area for that matter, a new report from the National Association of Home Builders and Wells Fargo says, “Yes, you can!”
According to this report, the prices for over 72% of the homes purchased in the first quarter of 2010 were affordable for families making an annual income of $63,800 (the median 
national income). One of the main reasons for this is because of the national median price: just $175,000. Adding to that is the still historically low interest and mortgage rates, as well as companies once again beginning to hire new employees. These “affordability” numbers are based on 28% or less of a family’s take-home pay.
Many new homeowners agree. The National Association of REALTORS® released the statistics for existing home sales on May 24. April saw a 7% increase in sales from March, and Freddie Mac reports that 30-year, conventional, fixed-rate mortgage commitment rates rose to 5.10% in the same month.
What Does This Mean for Buyers and Sellers?
While this still means slow going for those with a Huntsville home for sale, this means an incredibly hot market for buyers. With over 4 million homes available for sale, sellers are definitely competing with each other. In many places across the country, homeowners have dropped their prices 10% to 50%, in an effort to attract attention.
Can You Afford a Home?
