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| Todd Teta |
IRVINE,
CA, Sept. 26, 2019 — ATTOM Data Solutions, curator of the nation’s
premier property database and first property data provider of
Data-as-a-Service (DaaS), today released its Q3 2019 U.S. Home Affordability
Report, which shows that median home prices in the third quarter of 2019 were
not affordable for average wage earners in 371 of 498 U.S. counties analyzed in
the report (74 percent).
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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.
The 127 counties (26 percent of the 498 counties analyzed in
the report) where a median-priced home in the third quarter of 2019 was still
affordable for average wage earners included Harris County (Houston), TX; Wayne
County (Detroit), MI; Philadelphia County, PA; Cuyahoga County (Cleveland), OH;
and Allegany County (Columbus), OH.
“Buying a home continues to be a rough road to navigate for the
average wage earner in the United States," said Todd Teta, chief
product officer with ATTOM Data Solutions.
"Prices are going up substantially faster
than earnings in 2019 without any immediate end in sight, which continues to
make home ownership difficult or impossible for a majority of single-income
households and even for many families with two incomes,
“If there is any silver lining to the picture,
it’s that mortgage rates have fallen back to historic lows. That’s softening
the blow of rising prices and actually making home ownership a bit more
attainable in most areas of the country.”
Media Contacts:
Christine Stricker
949.748.8428
Data and Report Licensing:
949.502.8313
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