TUSCALOOSA, Ala. — The Alabama Housing Affordabilty Index for the first quarter of 2009 broke all records for housing affordability when it reached 210.4.
“This record-setting level is great news for Alabama consumers who are considering a home purchase,” said Grayson Glaze, executive director of the Alabama Center for Real Estate at The University of Alabama. The increase was the result of falling interest rates, a drop in median home prices and an increase in median income for Alabama residents.
The index and a full explanation for the increase can be found at http://acre.cba.ua.edu/affordability_index.php
Contact
Contact: Bill Gerdes, UA media relations, 205/348-8318, bgerdes@cba.ua.edu; For more information, contact Grayson Glaze, 205/348-7714, gglaze@cba.ua.edu