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U.S. housing affordability improves in Q3


10:15, November 16, 2012

WASHINGTON, Nov. 15 (Xinhua) -- Supported by lower interest rates, homes became more affordable to U.S. median-income families in the third quarter, even with house prices inching up constantly in metro areas, a leading industry association said on Thursday.

In the third quarter, 74.1 percent of all new and existing homes sold were affordable to families earning the U.S. median income of 65,000 U.S. dollars. This was up slightly from 73.8 percent in the previous quarter, said the National Association of Home Builders (NAHB).

Ogden-Clearfield, Utah, was named the most affordable major housing market in the United States in the third quarter, with 93. 2 percent of all homes sold affordable to families earning the area's median household income of 71,500 dollars.

The median price of all homes sold in the third quarter was 189, 000 dollars, rising from 176,000 dollars in the same period of last year. This was also the highest housing price since the final quarter of 2008, according to the association.

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