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Report: Home Prices Outpacing Wage Growth


A new report comparing home prices with wages finds that Sacramento County is still an affordable place to buy a home. But it's getting harder.

RealtyTrac's first-quarter data show that even though real estate prices are on the rise, homes are still more affordable than they have been historically.

The research firm uses an Affordability Index. RealtyTrac's Daren Blomquist says Sacramento County comes in better than average.

"But that number is down," Blomquist says, "it's down 8 percent from a year ago, meaning it's becoming less and less affordable in Sacramento County."

The data show home prices are up by 6 percent from a year ago while wages increased by only 2 percent.

Sacramento County's median sales price was $268,000 in the first-quarter.

The region's least affordable period was at the peak of the housing boom in 2006, when the median was $358,000.

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