Greetings neighbors,

Looking for a new home this spring, wondering if you can afford one after the expiration of the tax credit?

Well according to a joint report by the National Association of Home Builders and Wells Fargo, over 70 percent of U.S. homes are affordable.

According to the Housing Opportunity Index (HOI) 70.8 percent of new and existing homes were affordable to those bringing in the national medium income of $64,000 last year during the final quarter. This number showed a small increase in comparison to the previous quarter, and very close to the record high number of 72.5 percent that was set during the first quarter of last year.

Decreased prices in housing and low mortgage rates have definitely contributed to a record year of affordable housing.

In addition, the report named Detroit-Livonia-Dearborn, Mich.; Dayton, Ohio; Youngstown-Warren-Boardman, Ohio-Pa.; and Akron, Ohio as the most affordable major metro housing markets.