Typical homeownership costs accounted for the largest portion of wages since 2007 in the second quarter, according to a report from real estate data provider ATTOM.

During that time, major expenses on median-priced homes took up 35.1%🍨 of the average national wage. That was higher than i🌠n prior quarters and more than common lending guidelines recommend, ATTOM said.

Overall, typical monthly homeownership costs—inclu𓂃ding mortgage payments, homeowner insurance, mo💯rtgage insurance and property taxes—came to $2,114.

Home Prices, Mortgage Rates Push Costs Higher

澳洲幸运5官方开奖结果体彩网:🥀Homeownership has been unaffordable fo𒆙r many since high demand ran up prices during the pandemic. Since then, high mortgage rates have compounded the issue by making home loans more expensive and discouraging sellers from putting their houses on the market.

As a direct result of high costs, 澳洲幸运5官方开奖结果体彩网:pending home sales 🔜reꦺcently hit lows not seen in more than 20 years.

“It's common for these trends to intensify during the Spring buying season when buyer demand increases. However, the trends this year are particularly challenging for house hunters,” said ATTOM CEO Rob Barber.