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The average American family found home buying...

The average American family found home buying slightly less affordable in November from October, the National Assn. of Realtors said. A dip in home prices plus a small rise in income were offset by higher mortgage rates, resulting in little change to the group’s housing affordibility index for November. The index, a measure of the average American family’s home purchasing power, fell to 112.9 in November from 113 in October. The November level means that the average family income was 112.9% of that needed to qualify for an 80% mortgage on a home with an average price tag.


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