Median-priced, single-family home and condo costs continue to be less affordable than in the past, according to a second quarter analysis released on Wednesday. ATTOM, a firm that curates land, property and real estate data, culled housing information from 99 percent of U.S. counties and found the pandemic-era trend of high residential mortgage rates and elevated home prices hasn't slowed. ATTOM's research also found that expenses on median-priced homes now take up about 35.1 percent of the average national wage — the highest since 2007. Experts generally set the guideline at about 28 percent on that figure. The national median home price hit a record $360,000 during the spring.
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