According to statistics compiled by the National Association of Home Builders, nationwide housing affordability increased slightly in the last quarter of 2014. This was likely due at least in part to a slight dip in interest rates and a corresponding minor drop in home prices. A gradually improving economy and improving employment situation (at least in certain parts of the country) like also contributed to the affordability boost.
This trend seems to reinforce reports from builders and construction professionals, who have been offering positive and optimistic views on the state of the industry and home building/renovation fields.
Drilling the data down into specific regional breakouts, Syracuse, New York ranked as the most affordable major metro market in the NAHB survey. Two cities in Ohio—Akron and Dayton—followed closely behind.
No matter what city a property may be located in, or what the general affordability outlook may be, most people can take some significant steps to increase the affordability of their particular home or commercial property.
One of the biggest challenges in affording a property is managing the expenses required to maintain the home or building. A big part of that involves the cost of utilities, including those required to heat and cool the property.
Using a high-quality insulation material, such as spray foam, can make a big difference in how much it costs to maintain a property. This in turn can affect the affordability of that structure for the property owner.
To boost a property’s affordability profile through the addition of spray foam insulation, check out the online store at Intech Equipment & Supply. That’s where you can find any type of machinery or supplies you may need for spray foam insulation or roofing jobs.