U.S. Home Prices Least Affordable in Almost a Decade
- Prices push average wage earners out of property market
- Costs rising faster than wages in local markets surveyed
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The American dream continues to fade for many people. Housing affordability dropped this quarter to the lowest since late 2008, according to data released this month by the National Association of Realtors.
In May, the median price of a previously owned homes rose to a record $264,800, NAR data show.