Monday, July 28, 2014
PLACERVILLE, CALIFORNIA
99 CENTS

Higher home prices lower California housing affordability

By
From page HS21 | May 17, 2013 |

California Association of Realtors

LOS ANGELES — Higher home prices put a dent in California’s housing affordability during the first quarter of 2013, the California Association of Realtors reported.

The percentage of homebuyers who could afford to purchase a median-priced, existing single-family home in California dropped to 44 percent in the first quarter of 2013, down from 56 percent in first-quarter 2012 and from 48 percent in fourth-quarter 2012, according to CAR’s Traditional Housing Affordability Index.

CAR’s HAI measures the percentage of all households that can afford to purchase a median-priced, single-family home in California. CAR also reports affordability indices for regions and select counties within the state. The index is considered the most fundamental measure of housing well-being for homebuyers in the state.

Homebuyers needed to earn a minimum annual income of $66,800 to qualify for the purchase of a $350,490 statewide median-priced, existing single-family home in the first quarter of 2013. The monthly payment, including taxes and insurance on a 30-year fixed-rate loan, would be $1,670, assuming a 20 percent down payment and an effective composite interest rate of 3.55 percent. The effective composite interest rate in first-quarter 2012 was 4.16 percent and 3.49 percent in the fourth quarter of 2012.

The median home price was $279,190 in first-quarter 2012, and an annual income of $56,320 was needed to purchase a home at that price.

All regions of the state experienced significant year-over-year declines in housing affordability, with Bay Area and Southern California counties recording the largest decreases in the index due to higher home prices. At an index of 77 percent, Madera County was the most affordable county of the state, while San Francisco and San Mateo counties tied for the least affordable at 23 percent.

Comments

comments

.

News

 
County’s chief lawyer: No Brown Act violation

By Chris Daley | From Page: A1

General Plan workshop today

By Chris Daley | From Page: A1

 
Two growth control initiatives get green light

By Dawn Hodson | From Page: A1

Sand Fire burns more than 4,000 acres

By Dawn Hodson | From Page: A1, 1 Comment | Gallery

 
Fatal accident in Camino

By Cole Mayer | From Page: A1 | Gallery

Agricultural Crop and Livestock Report released

By Ross Branch | From Page: A3

 
35 people displaced in Tahoe hotel fire

By Tahoe Tribune | From Page: A3 | Gallery

.

Opinion

The balancing act: Toxic waste spreads

By Larry Weitzman | From Page: A4, 2 Comments

 
Bee-ing silly

By Mountain Democrat | From Page: A4, 1 Comment

 
.

Letters

Want more water?

By Letters to the Editor | From Page: A5, 1 Comment

 
Refugee crisis

By Letters to the Editor | From Page: A5, 1 Comment

Letter to Speaker of the House

By Letters to the Editor | From Page: A5, 1 Comment

 
GDPUD misinformation

By Letters to the Editor | From Page: A5

At the crossroads

By Letters to the Editor | From Page: A5, 1 Comment

 
.

Sports

Under the Scoreboard: July 26, 2014

By Democrat Staff | From Page: A6

 
Schedule: July 28 – Aug. 2, 2014

By Democrat Staff | From Page: A6

Roundup: July 26, 2014

By Democrat Staff | From Page: A6

 
Camp experience is ‘priceless’

By Mike Bush | From Page: A6 | Gallery

Speedway races cancelled

By Democrat Staff | From Page: A6

 
El Dorado doubles up on Pro Players

By Mike Bush | From Page: A6 | Gallery

Local spiker shines

By Democrat Staff | From Page: A7

 
Sports Scene: July 26, 2014

By Democrat Staff | From Page: A7

.

Prospecting

A beautiful day at Wakamatsu Tea and Silk Colony Farm

By Cathy Barsotti | From Page: B1 | Gallery

 
Foothill gourmet: Things get corny

By Donna Brown | From Page: B2

Bipolar Insights: From point A to point B

By Marcia Rose | From Page: B2

 
Cool time at Cowboys and Cornbread

By Democrat Staff | From Page: B2 | Gallery

 
As we were: Recreation district grows

By Ken Deibert | From Page: B4

Cantare names new director

By Cantare Chorale | From Page: B10

 
After 5 Club to meet

By Senior Day | From Page: B10

.

Essentials

DUI Log: June 25-July 9

By Cole Mayer | From Page: A2

 
Crime Log: July 14-16

By Cole Mayer | From Page: A2

Divorces

By Charlotte Sanchez-Kosa | From Page: A2Comments are off for this post

 
.

Obituaries

.

Real Estate

.

Comics

TV Listings

By Contributor | From Page: A8

 
Speed Bump

By Contributor | From Page: A8

American Profile Crossword

By Contributor | From Page: A8

 
Tundra

By Contributor | From Page: A8

Horoscope, Tuesday, July 29, 2014

By Contributor | From Page: A8

 
Horoscope, Monday, July 28, 2014

By Contributor | From Page: A8

Shoe

By Contributor | From Page: A8

 
Sudoku

By Contributor | From Page: A8

Rubes

By Contributor | From Page: A8

 
New York Times Crossword

By Contributor | From Page: A8