According to a report by the National Association of Realtors, with 11 months of data reported, 2012 is profiling to be a record year for favorable housing affordability conditions and a great year for buyers who could get a mortgage.

NAR's national Housing Affordability Index stood at 198.2 in November, based on the relationship between median home price, median family income and average mortgage interest rate. The higher the index, the greater the household purchasing power; recordkeeping began in 1970.

An index of 100 is defined as the point where a median-income household has exactly enough income to qualify for the purchase of a median-priced existing single-family home, assuming a 20 percent downpayment and 25 percent of gross income devoted to mortgage principal and interest payments. For first-time buyers making small down payments, the affordability levels are relatively lower.

For all of 2012, NAR projects the housing affordability index to be a record high 194, up from 186 in 2011, which was the previous record. November's reading was 2.5 index points below October, but up 1.5 index points from a year earlier.

For more information about houses in The Woodlands, please call realtor Luis Tamborrel at (832) 482-9367.

Hablamos Español y contamos también con información sobre casas en Woodlands, comuníquese al al 55.4991.4933 o Nextel 72*13*9814 desde México.