Housing Affordability Reaches Record Level as Tight Credit Conditions Impede Housing Market

WASHINGTON, D.C. – February 16, 2012 – (RealEstateRama) — Nationwide housing affordability, as measured by the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI), rose to a record level during the fourth quarter of 2011, while prospective home buyers continued to feel the constraints of tighter credit standards and a soft economy.