The Greater Lehigh Valley Realtors reported August data showed that while home prices are at or approaching record highs in many markets, mortgage default and foreclosure rates sit near historic lows.

In the Lehigh Valley, lender-mediated activity in August made up for only 2.0 percent, or 40 properties, of the market.

That said, according to Justin Porembo, CEO of GLVR, the rise in home prices is outpacing the rise in household income.

“The national median household income has risen 2.6 percent in the last 12 months, while home prices are up 6.0 percent,” Porembo said.

“That kind of gap will eventually create fewer sales due to affordability concerns, especially in the middle to high-middle price ranges.”

Prices in August continued to gain traction. The Median Sales Price increased 6.5 percent to $213,000.