The percentage of households in California able to afford a median-priced home stood at 19 percent in October, a 6 percentage-point decrease compared with the same period a year ago when the Index was at 25 percent, according to a recent C.A.R. report. The October Housing Affordability Index (HAI) was unchanged from September, when it also stood at 19 percent.
C.A.R.'s monthly housing affordability index measures the percentage of households that can afford to purchase a median-priced home in California. The index is the most fundamental measure of housing well-being in the state. At 42 percent, the High Desert region was the most affordable C.A.R. region in the state, followed by the Central Valley region at 26 percent. The Santa Barbara region was the least affordable in the state at 9 percent, followed by the Monterey region at 11 percent.
Posted by gandlwoods at December 18, 2004 07:44 AM