Affordability in California Continues to Decline

According to the California Association of Realtors’ latest Housing Affordability Index approximately 29 percent of California residents currently could afford a median-priced $553,260 single-family home.

Moreover, rising prices and low inventory mean that buyers need to earn twice as much as they did five years ago to qualify for a mortgage.

San Francisco remains the least affordable market in California with only 12 percent of residents able to qualify for a mortgage.

Leave a Comment