Sacramento High on Affordability Index
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Sacramento High on Affordability Index
By Mark Glover; [email protected]; Published: Saturday, Aug. 11, 2012
Higher home prices offset record-low interest rates to reduce housing affordability throughout California in the second quarter, the California Association of Realtors said Friday.
Sacramento, however, remained one of the state’s more affordable places to buy a house.
CAR said homebuyers who could afford to purchase an existing median-priced single-family home in California fell to 51 percent, down from 56 percent in this year’s first quarter and matching the percentage in the second quarter of 2011.
San Bernardino County was the most affordable county in the state with an index rating of 78 percent. San Mateo County edged out San Francisco County (24 percent) to be the least affordable, with only 23 percent of households able to purchase the county’s median-priced home ($790,000).
Sacramento County’s affordability index in the second quarter was 74 percent, based on a median price of $170,210. Placer County, with a median base of $279,820, came in at 65 percent.
There were no break-out listings for El Dorado and Yolo counties.
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