Housing Affordability Declines Four Points in July
September 6, 2002
Gap Between California and U.S. Now 27 Percentage Points
LOS ANGELES, /PRNewswire/ -- The percentage of households in California able to afford a median-priced home decreased by four percentage points in July compared to a year ago, according to a report released today by the California Association of REALTORS® (C.A.R.).
The July 2002 Housing Affordability Index (HAI) stood at 28 percent, down four points from a revised 32 percent in July 2001, according to C.A.R. The July HAI was unchanged from June 2002, when it was a revised 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 16 percent, followed by Northern Wine Country (18 percent), and the San Francisco Bay Area (18 percent)
|Northern Wine Country||18||16||20|
|Palm Sprgs/Lwr Desert||24||22||32|
|San Francisco Bay Area||18||17||20|
|San Luis Obispo||23||20||24|
|Santa Barbara Area||20||18||14|
Source: California Association of REALTORS® (C.A.R.).