Athens GA Properties, Athens Georgia Homes, and Athens Real Estate

By Sophia Stuart, Research Economist

• Affordability measures typically use the prevailing 30-year fixed mortgage interest rate and assume a 10 percent downpayment to translate home prices into monthly payments.
• Under these assumptions, real monthly payments on a median priced house in 2008 were 20 percent below the 2006 peak.
• As a share of median owner income, monthly payments fell five percentage points to 20.1 percent. With interest rates still sliding, affordability improved even more in the first quarter of 2009.

Copyright National Association of REALTORS®, Reprinted with permission.

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