The Milwaukee Post

May 16, 2014 • Milwaukee County Post • 5 MILWAUKEE – Slightly lower median home prices along with steady mortgage rates contributed to higher housing afford- ability in the first quarter, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index, released Tuesday. In all, 65.5 percent of new and existing homes sold between the beginning of January and end of March were affordable to families earning the U.S. median income of $63,900. This is slightly higher than the 64.7 percent of homes sold that were afford- able to median-income earners in the fourth quarter. Meanwhile, the national median home price dipped from $205,000 in the fourth quarter to $195,000 in the first quarter while average mortgage interest rates were virtu- ally unchanged, moving from 4.54 percent to 4.57 percent in the same period. "Housing affordability remains strong and this is an encouraging sign as the spring home building season moves into high gear," NAHB Chairman Kevin Kelly said in a release. The Milwaukee-Waukesha-West Allis metro area was the nation's 100th most affordable major U.S. housing market out of 225 markets, as 78.7 percent of all new and existing homes sold in the year's first quar- ter were affordable to families earning the area's median income of $70,300. In the Midwest region, the Milwaukee- Waukesha-West Allis market ranked 34th out of 38 markets. Madison ranked 136th nationwide, as 72.1 percent of all new and existing homes sold in the first quarter were affordable to families earning a family income of $80,800. Syracuse, N.Y. was the nation's most affordable major housing market, and Cumberland, Md-W.Va., claimed the title of most affordable smaller market. www.nahb.org – Dwayne Butler, Post Editor Report: Housing affordability edges higher in 1Q Milwaukee area ranks 100th among U.S. large markets Related story Area home sales down in April. Page 14 $ 7 99 4 Pack STINKY GRINGO •MARGARITA •STRAW MARGARITA $12.99- $5MR $ 7 99 Voted "Best Beer & Liquor Store" 2001-12 by Shepherd Express Readers ––––––––––––––––––––––––––––––––––––––––––– Awarded 2013 Best Bottle Shop in Wisconsin by RateBeer.com Celebrating 54 Years •FULL SERVICE LIQUOR STORE WITH DISCOUNT LOW PRICES! •WHOLESALE BEER & SODA •CO2 REFILLS •20 & 40LB. LUMP CHARCOAL •GOURMET ITEMS •GIFT BASKETS MAY WINE SPECIALS MAY WINERY OF THE MONTH •CHARDONNAY •CABERNET SAUVIGNON •MERLOT •PINOT GRIGIO •MOSCATO •PINOT NOIR •SUNSET RED •RIESLING •SAUVIGNON BLANC MEMORIAL DAY SPECIALS - 750ML & LITERS Limit 5-1 liters per coupon. 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