Home prices have risen faster than wages in many cities, creating an affordability issues for buyers — especially first timers. As good jobs bring new residents to a city, the strong demand for housing pushes prices up. Many markets on the West Coast have the trifecta right now. Taxes could also play a factor in people moving west, according to Nela Richardson, chief economist at Redfin. Low inventory means homes are selling fast, with West Coast buyers facing the toughest conditions.

Source: CNN June 13, 2018 16:07 UTC