New data show homeownership is becoming increasingly unaffordable.
In its fourth-quarter 2020 U.S. Home Affordability Report, ATTOM Data Solutions says that median home prices of single-family homes and condos were less affordable than historical averages in 55% of counties. That was an increase over the 43% posted a year ago and 33% from three years ago.
Fifty-five percent of counties—275 of 499 analyzed—were less affordable than past averages. In Q4 2019, 217 counties were less affordable than past averages. In Q4 2017, 164 hit that mark.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
