For the First Time in Years, Incomes Are Rising Faster Than Home Values
Has wage growth finally arrived?
The view from the master bedroom balcony of a house listed in San Francisco, California, U.S., on Friday, Feb. 12, 2016.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
A trend that's helped force U.S. home ownership to a 50-year low may finally be running out of steam.
According to a new report from Zillow, a real estate and rental marketplace, incomes are now rising faster than home values for the first time since 2011. The data shows that home values have been growing at a 5 percent annual rate since the beginning of the year, outstripped by 2015's income growth of 5.3 and 5.4 percent for family and non-family households respectively.