Home Prices Continue To Rise Faster Than Wage Growth (Las Vegas Fastest, Washington DC Slowest), First Time Homebuyers Face Grim Reality

Case-Shiller has released their June housing report.

The 20 metro home price index rose 6.31% YoY. The bad news? Hourly earnings for US private sector workers is only growing at 2.70% YoY.


As they say, all real estate is local. The fastest growing city in term of home prices is Las Vegas at 13% YoY with Seattle in close second at 12.8% YoY.


The slowest growing cities are Washington DC that is growing at a below-average rate of 2.9% YoY and Chicago at only 3.3% YoY.

The growing gap between home price growth and earnings growth is reflected in the rising cost of first time buyers.

start home prices

Housing for many households is simply unaffordable, particularly for first time home buyers.



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