Buying a home is becoming less and less affordable. While wage gains managed to outpace home price appreciation earlier this year, in recent months the tide has shifted against affordability, according to Attom Data Solutions.
"The big takeaway is that affordability is worsening," said Daren Blomquist, an Attom senior vice president. The real estate data company's affordability index was below normal in 25% of all counties nationwide, the highest level of unaffordable markets recorded since the third quarter of 2009. And this shift away from affordability isn't just happening in the country's most expensive ZIP codes.