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JAN 09, 2013 - MarketWatch

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Housing affordability on track to set record: NAR

WASHINGTON (MarketWatch) -- Housing affordability is expected to set a record in 2012 due to low prices and interest rates, according to data released Wednesday by the National Association of Realtors. The trade association is forecasting that its index of housing affordability will hit a record level of 194 in 2012, up from 186 in 2011, when the prior record was reached. Data go back to 1970. A reading of 100 means that a household with median income would have exactly enough income to qualify for buying a median-priced existing single-family home. A level of 194 for last year means that ... Read More

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