By AZ Business Magazine
ATTOM, a leading curator of real estate data nationwide for land and property data, released its first-quarter 2022 U.S. Home Affordability Report, showing that median-priced single-family homes are less affordable in the first quarter compared to historical averages in 79 percent of counties across the nation with enough data to analyze. That was up from just 38 percent of counties that were historically less affordable in the first quarter of 2021, to the highest point since mid-2008, as home prices continued rising faster than wages in much of the country.
Among counties with a population of at least 1 million, those where the affordability indexes worsened most from the first quarter of 2021 to the first quarter of 2022 were St. Louis County, MO (index down 32 percent); Wake County (Raleigh), NC (down 26 percent); Maricopa County (Phoenix), AZ (down 25 percent); Clark County (Las Vegas), NV (down 24 percent) and Collin County (Plano), TX (down 24 percent).
