Entry-Level Housing Affordability is at 24 Percent In California
September 1, 2007
The average of households that could afford to buy a home considered as an entry-level home in California is 24 percent Last year, in the second quarter of 2006 it was at 23 percent.
This Affordability Index percentage is stated from the California Association of Realtors (R). First-time Buyer Housing Affordability Index (FTB-HAI) measures the percentage of households that can afford to purchase an entry-level home in California. The California Association of Realtors (R) reports first-time buyer indexes for different regions and selects certain counties within the state. This Index is the most fundamental measure of housing well-being for first-time buyers in the state.
The High Desert region was the most affordable in the state - being at 45%, it was followed by the Sacramento region at 44 percent. Monterey region was listed as 17 percent and the State’s least affordable region was listed as the Santa Barbara area at 12 percent.
Posted in All Things San Diego, Lending, Local Business, Real Estate, Things of Interest
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