Housing affordability plunges in majority of markets, Attom says

  • A new home affordability report shows 24 percent of markets are less affordable than their historical averages, up from 22 percent last quarter and 19 percent one year ago.
  • Wage growth changed its course, from 13 consecutive quarterly rises to a 0.1 percent drop this time around.
  • Some of the least affordable markets compared to their historical averages include New York City, Houston and San Francisco.

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Unfortunately for first-time buyers, housing affordability is worsening across many major real estate markets, according to a new report.