California buyers lose ground
August 9, 2002
C.A.R. reports dip in California housing affordability index
Inman News Features
The percentage of households in California able to afford a median-priced home decreased by five percentage points in June, compared with a year ago, according to a report released today by the California Association of Realtors.
The June housing affordability index stood at 27 percent, down five points from 32 percent for the same month last year, according to C.A.R. The June index slipped one percentage point from May, when it was 28 percent.
At 66 percent, the High Desert was the most affordable region in the state, followed by Riverside/San Bernardino and Sacramento, both at 43 percent. Monterey was the least affordable region in the state at 15 percent, followed by Northern Wine Country at 16 percent, the San Francisco Bay Area at 17 percent and Santa Barbara at 18 percent.
Los Angeles-based C.A.R. is a state trade organization with more than 100,000 members.
Copyright: Inman News Service