The percentage of households in California able to afford a median-priced home stood at 19 percent in December 2004, a 4 percentage-point decrease compared with the same period one year earlier when the Index was at 23 percent, according to a recent C.A.R. report. The December Housing Affordability Index (HAI) was unchanged from November, 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 41 percent, the High Desert region was the most affordable C.A.R. region in the state, followed by the Central Valley and Sacramento regions at 24 percent. The Santa Barbara region was the least affordable in the state at 9 percent, followed by the Monterey, Northern Wine Country and San Diego regions at 11 percent.
Posted by gandlwoods at February 18, 2005 07:39 AM