According to a report released by ATTOM Data Solutions, the median-priced single-family homes and condos remained less affordable in the fourth quarter of 2023 compared to historical averages. This was true in 99% of the counties included in the analysis.
ATTOM's latest home affordability analysis shows home ownership requires historically high wages across the country. This pattern started in 2021 and the trend continued into the last quarter of 2023.
It is not surprising that the areas requiring the 20 highest annual wages required to afford a typical home are all located on either the east or west coast. Both coasts have historically seen higher home prices than the rest of the U.S.
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