Friday, April 3, 2020

Home Prices Still Unaffordable in 66 Percent of Local Markets

Todd Teta

IRVINE, CA — ATTOM Data Solutions, curator of the nation’s premier property database and first property data provider of Data-as-a-Service (DaaS), released its first-quarter 2020 U.S. Home Affordability Report, which shows that median home prices in the first quarter of 2020 are unaffordable for average wage earners in 319 of 483, or 66 percent of the U.S. counties analyzed in the report.

 But that figure is down from 70.4 percent in the fourth quarter of 2019 and 69.8 percent from the first quarter of 2019.

The report also shows that owning a median-priced home in the first quarter of 2020 in the United States – costing $252,500 – consumes 31.1 percent of the national average wage.

That percentage is down from 31.4 percent in the fourth quarter of 2019 and 31.6 percent in the first quarter of 2019, to the lowest percentage since the fourth quarter of 2017, when the average workers were spending 30.8 percent of wages to own a home.

The report determined affordability for average wage earners by calculating the amount of income needed to make monthly house payments — including mortgage, property taxes and insurance — on a median-priced home, assuming a 3 percent down payment and a 28 percent maximum “front-end” debt-to-income ratio.

That required income was then compared to annualized average weekly wage data from the Bureau of Labor Statistics.

“Home affordability has inched ahead this year across the United States as buying a house or a condo gets closer and closer to the level where the average wage earner can swing the deal within standard lending guidelines," said Todd Teta, chief product officer with ATTOM Data Solutions.

 "While the national median price still remains a bit out of reach for the average wage earner, the affordability gap has narrowed to the smallest point in more than two years.

“It seems bizarre that median home prices have risen 8 percent over the past 12 years while average wages grew by less than half that amount.

"But falling interest rates continue making up the difference, dropping monthly home ownership payments in a majority of the country.”

“All that may change in a huge way over the next few months as the impact of the coronavirus hits the housing market. We are entering a period of great uncertainty.

 “But in the initial months of the year, the picture has appeared to continue to brighten for home seekers.”

For a detailed analysis on a county-by-county level, please contact:

 Christine Stricker

Data and Report Licensing:


EverWest Enters Nashville, TN Industrial Market with Elm Pike Hill Building Acquisition

Mark Bigarel
NASHVILLE, TN (– Denver-based EverWest Real Estate Investors has cemented its entry into the Nashville industrial market with the purchase of a 169,855-square-foot infill building located at 640 Massman Dr., in the heart of the metro Nashville’s logistics supply chain.

Purchased in a $12 million off-market deal from a private owner, EverWest plans to renovate the fully vacant building with improvements that will maximize functionality and the building’s location within the sought-after Elm Pike Hill area.
With a vacancy rate of just 1.7 percent and trailing rent growth of more than 6.6 percent, this is one of Nashville’s most popular industrial neighborhoods, strategically positioned between downtown Nashville and the Nashville International Airport.
Todd Prevost of Avison Young represented EverWest in the acquisition.
“Nashville has been on our radar for quite a long time, but little industrial product is trading on the open market,” said EverWest Senior Vice President and Head of Acquisitions Mark Bigarel.
                   Todd Prevost
“We are thrilled to have identified this off-market opportunity and look forward to renovating and re-leasing this asset, which by most accounts is located in one of Nashville’s most sought-after industrial pockets.”
EverWest will renovate the 640 Massman Dr. building with improvements including new dock doors, energy-efficient LED lighting, exterior paint and transformation of approximately 5,000 square feet of office space into fully modernized interiors.

 It will also upgrade the parking and truck court areas with new asphalt.
Built in two phases between 1970 and 2000, the 640 Massman Dr. building sits on 11.45 acres just off of Elm Hill Pike. It features 20’ to 32’ clear heights, expansive parking and a separate parcel for trailer storage. It is minutes from Interstates 40 and 24, and the Nashville International Airport, within a highly strategic regional distribution hub.
The submarket is further strengthened by a low cost of doing business and robust new business attractions and expansions, including the Amazon HQ2 that alone will add approximately 5,000 new employees to the downtown market.

640 Mussman Drive,  Nashville, TN
EverWest will begin renovations at 640 Massman Dr. in the second quarter of 2020, with completion expected in the late third quarter of 2020.
EverWest is an active investor and lender across the United States, including regional activity in the Southeastern U.S. spanning industrial, office and multi-family product.
For more information on EverWest, please visit
For more information on GWL Realty Advisors, please visit
Stacey Hershauer

P 480.600.0195

Ware Malcomb Promotes Erica Godun to Director of Regional Operations for Northeast Region

Erica Godun

NEWARK, NJ– Ware Malcomb, an award-winning international design firm, today announced Erica Godun has been promoted to Director, Regional Operations for the Northeast region.
In this role, Godun oversees regional operations for the firm’s offices in Newark, N.J., Princeton, N.J. and New York, N.Y.
Godun joined Ware Malcomb in 2015 as Studio Manager, Interior Architecture and Design as part of the firm’s interiors practice in New Jersey.
She brings over 20 years of experience in all phases of interior architecture and design and construction to the Ware Malcomb team, and has worked on a wide range of projects including corporate office, government, and education. 
“Erica’s talent for design is matched by her extraordinary leadership and mentoring capabilities,” said Michael Bennett, Principal of Ware Malcomb’s Northeast region.
“With such a strong combination of design, leadership and business acumen, Erica is well-positioned to take on a new operational leadership role for Ware Malcomb's Northeast offices.

Michael Bennett
 "I’m confident her guidance will result in continued strong growth and the ongoing development of our teams within the region.”
Godun is based in Ware Malcomb’s Newark office, which recently expanded and relocated to a new, larger space located at 110 Edison Place, Suite 303 in the iconic Ironside Newark building.
The firm’s move to Newark was driven by the growth of its local employee and client base, as well as the opportunity to be closer to clients in a vibrant growth market.
For more information, please visit and view Ware Malcomb’s Brand Video at


Rachel Devany
VP Public Relations
 KCOMM for Ware Malcomb

Maureen Bissonnette
 Associate Principal, Marketing,

Diverse Team of Professionals with Combined Talents Join Regal | Christie’s International Real Estate

Daniela Galvao (right) and Marcelo Santos


ORLANDO, FL – Real Estate Professionals and Celebration residents Daniela Galvao and Marcelo Santos recently joined the sales staff at Regal | Christie’s International Real Estate with five Central Florida locations.

The luxury brokerage brought on the diversely talented team of professionals whose single focus for more than a decade has been assisting buyers and sellers of high-end real estate in Orlando’s hospitality corridor, according to Chris Christensen, Broker / Owner of Regal | Christie’s.  

 “Daniela and Marcelo have a unique combination of background and talent demonstrated by their track record of success in the luxury segment of the market – for both primary and secondary vacation homes – especially in Celebration, Dr. Phillips, Reunion , Windermere and Winter Garden,” Christensen said. 

Originally from Brazil , Galvao holds a Bachelor’s Degree in Modern Languages and is fluent in English Portuguese and Spanish.  She spent 11 years in the hospitality industry prior to becoming a real estate broker in 2009.

Chris Christensen
 Santos , with a Masters Degree in Finance and Capital Markets, has more than 16 years of experience in real estate sales and the construction industry including commercial transactions involving mixed-use projects and income properties.  He also holds the Accredited Buyers’ Representative (ABR) designation.

Regal | Christie’s International Real Estate hires the industry’s top performing agents to provide buyers and sellers of luxury real estate an unparalleled level of customer service.  

The Central Florida brokerage that closed over $248 Million in sales last year is the only Christie’s International affiliate in the region. The name has been instantly and internationally recognized as synonymous with quality and prestige and with a steadfast commitment to excellence.


Chris Christensen, Broker/Owner, Regal | Christie’s International Real Estate, 407-312-8003 or

Beth Payan, Larry Vershel Communications Inc.,
407-644-4142, 407-461-3781 or