Home Prices Not Affordable in 74 Percent of U.S. Cities by Average Wage Earners

ATTOM Data Solutions | October 07, 2019

According to ATTOM Data Solutions' Q3 2019 U.S. Home Affordability Report, the median U.S. home price in the third quarter of 2019 was not affordable for average wage earners in 371 of 498 U.S. counties analyzed in the report (74 percent). The largest populated counties where a median-priced home in the third quarter of 2019 was not affordable for average wage earners included Los Angeles County, CA; Cook County (Chicago), IL; Maricopa County (Phoenix), AZ; San Diego County, CA and Orange County, CA. Those same counties were in the top five in Q2 2019.

Spotlight

Despite ongoing political uncertainty, there has been a significant increase in buyer confidence in the first quarter of 2019, resulting in greater interest. Realistically priced properties are attracting particular interest, especially in the new build market. Here, the level of viewings and new applicants are up considerably. However, this increase in enquiries isn’t yet translating into commitment and transactions..

Spotlight

Despite ongoing political uncertainty, there has been a significant increase in buyer confidence in the first quarter of 2019, resulting in greater interest. Realistically priced properties are attracting particular interest, especially in the new build market. Here, the level of viewings and new applicants are up considerably. However, this increase in enquiries isn’t yet translating into commitment and transactions..

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