California housing affordability rises in Q3

Housing affordability increased in 22 of the state’s 28 metropolitan areas in the third quarter, according to the California Building Industry Association’s Housing Opportunity Index (HOI). On a statewide basis, the HOI found that a family earning the median income could have afforded 63.5 percent of the new and existing homes that were sold during …

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More Californians able to afford homes

Lower home prices and interest rates led to an increase in home affordability in the third quarter, the CALIFORNIA ASSOCIATION OF REALTORS® reported. Making sense of the story: The percentage of California households that could afford to purchase a median-priced home of $292,120 rose to 52 percent in the third quarter, up from 51 percent …

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