Homes in an increasing number of communities grew less affordable during the second quarter of the year, RealtyTrac said Thursday.
In a release for its Housing Affordability Index for the second quarter, the company said 18% of U.S. housing markets were less affordable in Q2 2016 compared to their historic norms. That's a jump from 5% of markets reported in the previous quarter, but down from the 20% reported a year ago.
Of the 417 counties analyzed, 74 counties had an affordability index below 100 in the second quarter. That means buying a median-priced home was less affordable than the historically normal level for each county dating back to the first quarter of 2005.
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