Thursday, June 23, 2016

RealtyTrac Reports 18 Percent of U.S. Housing Markets Less Affordable Than Historically Normal Levels in Second Quarter 2016

Daren Blomquist
IRVINE, CA, June 23, 2016 — RealtyTrac® (, the nation’s leading source for comprehensive housing data, today released its Q2 2016 Home Affordability Index, which shows that 18 percent of U.S. county housing markets were less affordable than their historically normal levels in Q2 2016, up from 5 percent of markets in the previous quarter but down from 20 percent of markets exceeding historically normal home affordability levels a year ago.

 “Although nearly one in five U.S. housing markets was not affordable by historic standards in the second quarter, the good news is that affordability is improving compared to a year ago in the majority of markets thanks to a combination of slowing home price appreciation and accelerating wage growth, along with falling interest rates,” said Daren Blomquist, senior vice president at RealtyTrac.

“The average interest rate on a 30-year fixed rate mortgage is down 37 basis points from a year ago, while annual wage growth accelerated compared to a year ago in 72 percent of the markets we analyzed and annual home price growth slowed compared to a year ago in 68 percent of the markets, including bellwether markets such as Los Angeles County, Miami-Dade County, Brooklyn, Dallas County, and San Francisco County.”

  For a complete copy of the company’s news release, please contact:
Jennifer von Pohlmann
Sr. Public Relations Manager
Office: 949.502.8300 ext 139

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