As demand continues to outpace supply, home buyers trying to combat the challenges of rising prices and interest rates are moving away from their jobs and toward more affordable homes. Purchase loan applications in this year's second quarter were lower in cities with hot job markets but less affordable homes, according to Attom Data Solutions.
From San Francisco to Jackson, Miss., here's a look at the 12 cities where home sales are expected to be the weakest during the third quarter of 2017.
The rankings are based on the Attom's Pre-Mover Index, which analyzes purchase mortgage applications on properties in a given area to determine the likelihood of a single-family house or condo being sold in the next 30 to 90 days. An index value of 100 is equivalent to the national average, while the percent changes to the index and median sales price are based on a year-over-year comparison.