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Housing affordability improved in November.

The National Assn. of Realtors said its affordability index climbed to 99.7% in November, the highest since December, 1978. The index number means that a family earning the median income of $27,814 per year has 99.7% of the income needed to qualify for a mortgage with a 20% down payment on a median-priced home selling for $74,600. The November gain in the index was the sixth consecutive increase.


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