Housing Affordable for More Californians

According to a recent report from the California Association of Realtors® the combination of lower home prices and lower interest rates has resulted in an increase in home affordability for the third quarter of 2011.

The percentage of California households that could afford to purchase a median priced home of $292,120 rose to 52% in the 3^rd quart up from 51% in the 2^nd.

Regionally, housing affordability rose in most counties in the Bay area, but was lower in Los Angeles and Fresno counties. Most affordable was San Bernardino County in Southern California and the least affordable was San Mateo County in Northern California.