Home prices have been climbing out of reach in an increasing number of communities, RealtyTrac warned March 24.
Analyzing data for the first quarter of this year, the company found 9% of county markets were less affordable than they were historically. That was up from 2% of county markets last year.
“While the vast majority of housing markets are still affordable by their own historic standards, home prices are floating out of reach for average wage earners in a growing number of U.S. housing markets,” Daren Blomquist, RealtyTrac's senior vice president, said.
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