In a stark revelation about the current state of the U.S. housing market, a recent report from ATTOM, a leading real estate data analyst, indicates that residential properties in nearly all analyzed counties have become less affordable compared to historical averages dating back to 2005, prior to the Great Recession. This alarming trend raises significant concerns for potential homebuyers and underscores the mounting challenges they face in achieving homeownership. According to the report, 586 out of 594 counties assessed demonstrated a decline in affordability, with a staggering 99% of U.S. counties exhibiting less favorable conditions for buyers. The analysis highlights the median prices of single-family homes and condominiums, revealing that in many areas, these costs have escalated beyond what is manageable for the average wage earner. For instance, in Clark County, Nevada, where the annual typical wage stands at $66,105, prospective buyers found themselves allocating 42% of their income to home expenses in the last quarter of 2025. This figure starkly contrasts with the historical average of 31.7%, illustrating a dramatic increase in the financial burden of homeownership. Clark County ranked as the 223rd most affordable county in the analysis, while neighboring Washoe County held the 220th position, highlighting a regional struggle with affordability. In Washoe County, where the average annual wage is slightly higher at $70,954, buyers faced even greater challenges, needing to allocate 48.4% of their income to housing expenses, compared to a historical average of 38.9%. The ATTOM report calculated affordability by measuring annualized weekly wage data against the income necessary to cover the costs of a median-priced home, including mortgage payments, property taxes, insurance, and association dues, assuming a standard 20% down payment and a 28% debt-to-income ratio. The report emphasized that in 43% of the counties analyzed, median home prices increased at a rate that outpaced wage growth. Notably, Nevada's wage growth has outperformed home price increases, with annualized wages rising by 4.4% while home prices saw a modest increase of just 0.7% in the last quarter of the year. This trend presents a nuanced picture of affordability in the state, contrasting with the broader national picture. At the other end of the spectrum, counties such as Kings County, New York, and Marin County, California, have emerged as some of the least affordable regions in the nation. In Kings County, homebuyers would need to allocate an astonishing 103.1% of their wages toward housing costs, followed closely by Marin County at 97.3%. Such figures underscore the dire situation for many seeking to enter the housing market in these areas. The national median home price reached a record high of $365,000 during the second and third quarters of 2025. To maintain housing expenses within the recommended threshold of 28% of annual income, a buyer would need to earn approximately $86,374. This pressing financial reality highlights the widening gap between home prices and wage growth, which has nearly doubled over the past five years, with home prices increasing by 54% compared to a 29% rise in wages, according to data from the U.S. Bureau of Labor Statistics. In an alarming trend, 74% of the counties analyzed reported that home expenses exceeded the standard threshold of 28% of the average resident's income, marking a significant barrier to homeownership for many Americans. Major metropolitan areas, including Los Angeles, where homeownership consumes 67.5% of typical wages, and Miami-Dade County, Florida, at 43.6%, exemplify the widespread unaffordability that has become a hallmark of the current housing market. Furthermore, in about 30% of the counties assessed, home purchase expenses surpassed 43% of the typical resident's income, categorizing them as seriously unaffordable. The report employs an affordability scale for each county, with scores below 100 indicating a decline in affordability compared to historical averages. Clark County received a score of 75 for the last quarter of 2025 and an even less favorable score of 60 for the entire year, while Washoe County registered scores of 80 and 63, respectively. The implications of these findings are profound, affecting not only potential homebuyers but also the broader economy. Rob Barber, CEO of ATTOM, remarked that the future of home buying power will hinge not only on whether prices stabilize or decrease but also on mortgage rates and overall economic conditions. As the housing market continues to grapple with the challenges of affordability, many Americans may find themselves increasingly priced out of the dream of homeownership, raising questions about the sustainability of the current market dynamics. In summary, the ATTOM report paints a somber picture of the U.S. housing market, where affordability remains a significant hurdle for prospective buyers. With rising home prices and stagnant wage growth, the dream of homeownership is becoming increasingly elusive for many, necessitating urgent attention from policymakers and stakeholders to address the growing affordability crisis.