Buy a house now

Now is a good time to buy a house in the U.S.

CNNMoney writes that according to a quarterly report from the National Association of Home Builders (NAHB) and Wells Fargo (WFC, Fortune 500), the during the third quarter, a typical American family could afford to buy 70.1% of all homes sold in the U.S.

NAHB says a home is affordable if a family earning median income can buy property without sacrificing more than 28% of their take-home pay.

Wells Fargo states that the following are the metro areas which has the most affordable homes: industrial Midwest, Youngstown (Ohio), and Detroit. The least affordable metro areas are New York, San Francisco, Honolulu, and Sta. Ana California.

Unfortunately, this news might be good for buyers but for sellers it might be a different thing.

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