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Foreclosure starts and completions hit record lows nationwide.
Home prices have increased more than average rents and more than average wages in 88% of the counties analyzed.
Looming rate hikes pressure buyers to buy sooner rather than later, despite limited options.
The typical home remains within the means of the average wage earner, but the historic affordability is down in three-quarters of the U.S. market.
This marks the largest annual decrease in profit margins since early 2009 when the housing market crashed.
The latest trends have reversed patterns seen in early 2019 through early 2021 when lending activity tripled.
