[Crawford]

Those are average incomes, not median incomes, so not terribly useful. Obviously mean incomes will be pulled upward by outliers on the high end. Medians will be lower. And these are family incomes, not household incomes. Household incomes will be lower, and better reflect the homeowner market.

And I don't think incomes are particularly useful for explaining home prices, given that most homebuyers are homeowners, or funded by homeowners. The price increases are irrelevant to most because they already own. What does it matter if you make 50k or 500k if your existing home is benefitting from the same price increases as your new home?