Housing Affordability Index - Buyer's Market At the end of May, The National Association of Realtors released a report on the Housing Affordability Index for the month of April. The report showed a decline to 129.4 from the March level of 130. The change was a reflection of an increase in the median price home for the month of April. A clearer description of what the 129.4 number is that a family that earns the median family income in April, which was just over $60,000, had $129.4% of the income required to quality for the conventional loan. The conventional loan would cover 80% of the median-priced single family home. In April, the median priced single family home was valued at $200,700. In July 2007 the Housing Affordability was at 103.6 and was due to higher home prices at the time along with higher interest rates. The more than 25 point increase since July 2007 should continue and this will mean that there will be some recovery for the struggling real estate market. Some have speculated that right now we are in the midst of a buyers market and when you look at these numbers, it is undeniable. The market as of June 2008 is a buyer's market through and through.