The Real Deal Miami

Buying pool grows nationally

April 09, 2009 12:26PM

The National Association of Home Builders said sliding prices and lower mortgage rates mean 55 million families can now afford to buy houses at the national median price of $200,000. Chairman Joe Robson said that’s an increase of 17 million families from two years ago. Census Bureau data indicates families can manage to buy a house with lower income and still save money, thanks to a drop in mortgage rates and a deflation in prices in many markets. There’s also growing interest in the $8,000 first-time home buyer tax credit included in the recently enacted economic stimulus package.