Phoenix Home Prices Still Outpacing Wage Growth

by KJZZ Business News, Your NPR Station

Listen on KJZZ.org

A new report shows some good news and bad news for homebuyers.

Favorable mortgage rates made buying a home a little more attainable nationwide in the last quarter of 2019, according to the property value analysis from Attom Data Solutions. But the average-priced home is still out of reach for the average wage earner in the Phoenix area. 

In more than three-quarters of the country, home prices are still outpacing any growth in wages. That includes Maricopa County, where home prices rose more than 8% and wages grew only about 3%, according to the report.

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KJZZ Business News, Your NPR Station
KJZZ Business News, Your NPR Station

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