According to CNN, “It's prime time for house hunters.”  They are saying that, if you have a decent job and a good credit score, you should be able to buy a home in your area.  The National Association of Home Builders (NAHB) and Wells Fargo issued a report saying that nearly 75% of American families make the $63,800 annual national median income and could afford to buy a home during the first three months of this year.  For the first quarter, the national median home price was $175,000.  Trulia reported the median home sales price in San Diego to be $315,000 from February to April of this year.  The National Association of Home Builders says a home is “affordable” if a family that is making their metro area’s median income could put a maximum of 28% of their take-home pay toward their housing costs.  NAHB chairman Bob Jones said, “With interest rates still hovering at low levels, companies starting to hire new employees and the economy beginning to rebound, this should encourage more home buyers to enter the market and help further stabilize housing and the economy.”

For further information, check out this article: Nearly 75% Of Homes Are Affordable