WASHINGTON, D.C. – May 11, 2011 – (RealEstateRama) — According to new data released by the National Association of Home Builders (NAHB), stark contrasts exist in housing affordability between major races and ethnic groups across the United States. The NAHB’s quarterly index, the NAHB/Wells Fargo Housing Opportunity Index (HOI), which measures housing affordability in metropolitan areas nationwide, was broken down for the first time in its history to analyze the differences in income and housing affordability in 2010 across five different races/ethnic groups.The report examined median incomes and housing affordability for Whites, Blacks, Hispanics, Asians and American Indians/Alaska Natives. The HOI for all races/ethnic groups combined was 72.8 in 2010, meaning that 72.8 percent of all homes sold in the U.S. last year were affordable to families earning the national median income of $64,400.
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