Housing Affordability in California is down from last year
According to the California Association of REALTORS® (C.A.R.), "The percentage of households in California able to afford a median-priced home stood at 18 percent in July, a 9 percentage-point decrease compared to the same period a year ago when the Index was at 27 percent."
Where were the affordable areas in California? C.A.R. reports "At 42 percent, the High Desert region was the most affordable C.A.R. region in the state, followed by the Sacramento and Central Valley regions at 26 percent. The San Diego region was the least affordable in the state at 10 percent, followed by the Orange County and Monterey regions at 11 percent."
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