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2012-05-22 07:07:59
Home affordability at an all time high

Housing affordability

According to an article in the San Diego Daily Transcript, housing affordability in California continues to improve.  Last quarter, 56% of Californians could afford the median-priced single family California home with a 20% downpayment.  This is the all-time high on record.  In San Diego County, home affordability was at 46% in the first quarter, the same as the last quarter of 2011 and up from a restated 40% a year ago. 

Of course, not every home buyer puts down 20% nor does everyone purchase a median-priced single family detached home. 
However, the fact that this affordability number is more than twice what it was at the height of the market in 2005, this is excellent news for would-be home buyers.

 

 
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