Home affordability continues to rise beyond the reach of more Americans as prices increase faster than wages.

In the second quarter, median home prices of single-family homes and condos became less affordable than historical averages in 61 percent of counties across the nation with enough data to analyze, according to ATTOM's second-quarter 2021 US Home Affordability Report. The 61% mark was up from 48 percent of counties in the second quarter of 2020 to hit the highest point in two years.

In 347 of the 569 counties analyzed in the second quarter of 2021, median home prices are less affordable than past averages. In the second quarter of 2020, 275 counties were less affordable than past averages. Its little surprise homes were less affordable, with prices rising 22% over the past year to a record of $305,000. ATTOM says the percentage of counties where affordability is worse than historical averages has hit its highest point since the second quarter of 2019.

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Leslie Shaver

Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.