California Association of Realtors (CAR) reports on January home purchase affordability
C.A.R. that "the percentage of households in California able to afford a median-priced home stood at 23 percent in January, a 6 percentage-point decrease compared to the same period a year ago when the Index was at 29 percent"
Additionally, "the January Housing Affordability Index (HAI) was unchanged from December, when it also stood at 23 points. C.A.R.'s monthly housing affordability index measures the percentage of households that can afford to purchase a median-priced home in California. C.A.R. also reports housing affordability indexes for regions and select counties within the state. The index is the most fundamental measure of housing well-being in the state."
It is not surprising to us, as we watch the prices rise.