WASHINGTON - Housing got even more affordable amid stable house prices due to low interest rates, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index.

Ogden-Clearfield, UT held its spot as the country's most affordable major housing market for a second consecutive quarter at the end of 2012. New York-White Plains-Wayne, NY-NJ edged out San Francisco-San Mateo-Redwood City, CA as the least affordable market. San Francisco had held that spot for 18 consecutive quarters.

Nearly 75 percent of homes sold between October 1 and December 31 were affordable to families earning the U.S. median income of $65,000. That a one percentage point rise the third quarter.

"Affordability remains historically high thanks to favorable mortgage rates even as national home price indexes show some rise in values," says NAHB chief economist David Crowe. The median price of new and existing homes sold in fourth quarter 2012 was $188,000, down a hair from the previous quarter's $189,000 that marked a nearly three-year high. The NAHB home affordability index channel is here>>

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