This 11-piece Cuisinart cookware set is a perfect gift for the holidaysThe high cost of housing has a lot to do with high interest rates, according to the Northeast Florida Association of Realtors –
The high cost of housing has a lot to do with high interest rates, according to NEFAR President Diana Galavis. The Housing Affordability Index measures housing affordability for the region. In other words, it measures whether a typical family earns enough to qualify for a mortgage on a typical home, based on current interest rates, median income and median home prices. A higher number means greater affordability. An index of 100 is defined as the point where a median-income family has the exact amount of income needed to purchase a median-priced existing home.
“The monthly supply of inventory in the region increased to 3.5 months,” said Galavis, noting there was a 19% increase since September. “Overall, the Northeast Florida market is strong with the sales median holding with very little change.”