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Health & Fitness

Home Affordability reaches 1971 Level

Home affordibility, Ashburn Home Sales, all looks like we are heading toward a more positive real estate market. December shows 1.3% higher than this same period last year.

Home Affordability reaches 1971 Level According to the U.S. Department of Housing and Urban Development (HUD) 

Home affordability is at 1971 levels, due to falling home prices and record low mortgage rates. This is putting home ownership in reach to more families. Home sales have been ticking up, according to recent reports by the National Association of REALTORS®, the National Association of Home Builders, as well as the Obama administration’s December Housing Scorecard. 

However, some consumers are finding more stringent lending standards for getting a mortgage a roadblock to home ownership, and some housing experts have blamed tighter underwriting standards in recent years for continuing to hold back the housing market. See the full article, Home Affordability Reaches 1971 Level from Housing Predictor Sale Price to List Price Ratio — In December, the average sale price in Ashburn was 98.9% of the average list price, which is 1.3% higher than at this time last year.

Find out what's happening in Ashburnwith free, real-time updates from Patch.

Days on Market — This month, the average number of days on market was 43, higher than the average last year, which was 34, an increase of 26%. Months of Supply-  In December, there was 1.8 months of supply available in Ashburn, compared to 2.9 in December 2010. That is a decrease of 38% versus a year ago.

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