What is the NAHB-Wells Fargo Housing Opportunity Index (HOI)?
The NAHB-Wells Fargo Housing Opportunity Index (HOI) for a given area is defined as the share of homes sold in that area that would have been affordable to a family earning the local median income based on standard mortgage underwriting criteria. Therefore, there are really two major components – income and housing cost. For more details, visit www.nahb.org/HOI.
