Here's how much housing affordability has dropped in Arizona
Flagstaff and Prescott typically have the lowest housing affordability in Arizona, but not this last quarter. In the second quarter 2022, only 22.3...
Flagstaff and Prescott typically have the lowest housing affordability in Arizona, but not this last quarter. In the second quarter 2022, only 22.3% of homes sold in the Phoenix metro were affordable to those earning the median family income according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunity Index released August 11. Nationally, the share of homes affordable to families earning the U.S. median income moved down to 42.8% compared to 56.9% in the first quarter, the lowest since the Great Recession.