Triad Home Affordability at 19-Year Low, Challenges Homebuyers
Guilford County Affordability Plummets to 19-Year Low
Guilford County's residential home market affordability plummeted to a 19-year low during the second quarter, scoring a 68 - the lowest in Attom Data Solutions' history. The research company's affordability index reveals a concerning trend.
Forsyth County Affordability Matches Record Low
Forsyth County also faced affordability challenges with a score of 69 in the second quarter, matching the lowest in recent years. Rising median home prices and stagnant wages contributed to the struggle.
Davidson County Sets Record Low in Affordability
Davidson County experienced a record low affordability score of 62 during the second quarter, presenting significant obstacles for prospective homebuyers. The increasing median sale price adds to the financial burden.
Attom Data Solutions' latest national report sheds light on the growing concerns in the Triad's housing market. Chief Executive Rob Barber highlighted the challenges faced by homebuyers amidst rising prices and mortgage rates. As the 2024 buying season progresses, the situation remains precarious.
The escalating affordability crisis extends beyond the Triad, affecting large North Carolina counties like Durham, Mecklenburg, and Wake. The record lows signal a pressing need for intervention and solutions to support aspiring homeowners in the current economic climate.
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