3rd Quarter housing affordability report

Published Thursday, November 7, 2019

LOS ANGELES (Nov. 7) – A lower cost of borrowing and higher income levels allowed more Californians to afford a home purchase during the third quarter of 2019, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today.

The percentage of home buyers who could afford to purchase a median-priced, existing single-family home in California in third-quarter 2019 edged up to 31 percent from 30 percent in the second quarter of 2019 and up from 27 percent in the third quarter a year ago, according to C.A.R.’s Traditional Housing Affordability Index (HAI). California’s housing affordability index hit a peak of 56 percent in the third quarter of 2012.