Dallas-area homes have become more affordable, report says
10:42 PM CST on Thursday, February 19, 2009
Falling home prices and mortgage rates have made Dallas-Fort Worth even more affordable for residential buyers.
At the end of 2008, more than 67 percent of the homes sold in the D-FW area were affordable for residents earning the area's median family income, according to a new report by the National Association of Home Builders.
That's the D-FW area's highest affordability ranking in four years.
By comparison, about 62 percent of
"Falling home prices and very favorable mortgage rates both contributed to the housing affordability gains we saw in the fourth quarter of 2008," said association chairman Joe Robson, a builder from
The D-FW area ranked 112th in terms of home affordability out of the 222
The most expensive