Housing Affordability Index Sets Record in January

The National Association of Realtors have released their Housing Affordability Index for the month of January 2009. The #'s show that the HAI rose 13.6% in January to 166.8, a new record high. The HAI shows that the relationship between home prices, mortgage interest rates and family income is the most favorable since tracking began in 1970. For a chart showing the index for the past 13 months and the past 3 years, click here.