Housing affordability has hit a 10-year low throughout most of California, new data show, as three out of four state residents can no longer afford sky-high median homes prices. Buyers in the capital region are feeling similar pressure.
The percentage of people able to afford an average-price home dropped sharply from 31 percent at the start of 2018 to 26 percent by mid-year, the lowest level since 2008, according to an analysis by the California Association of Realtors.
That state median single-family home price hit $597,000 during the April-to-June time period this year.
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