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| Daren Blomquist |
IRVINE, CA, June 23, 2016
— RealtyTrac® (www.realtytrac.com), 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:
http://www.realtytrac.com/
Jennifer von Pohlmann
Sr. Public Relations
Manager
Office: 949.502.8300 ext
139
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