November 15, 2024 2:24 pm
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Home prices outpace wage growth; affordability worsens in Maricopa County

housing-prices-300x192By Paul Bubny | GlobeSt.

Home prices in 89% of 414 US counties rose faster than wages in the third quarter, ATTOM Data Solutions said Thursday. Twenty-four percent of US county housing markets were less affordable than their historic averages in Q3, according to ATTOM’s Q3 2016 Home Affordability Index.

“The improving affordability trend we noted in our Q2 report reversed course in Q3,” says Daren Blomquist, SVP at ATTOM. He notes that along with home price acceleration, there was a slowing wage growth in local markets as well as nationwide.

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Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.