Homes in California and the nine-county Bay Area were slightly more affordable than they were in the second quarter, though less than one-third of households meet the minimum income requirements to qualify for a mortgage. Meanwhile, affordability conditions in Los Angeles County trended in the opposite direction.
Tag Archive: Solano County
Almost one-third of the U.S. population now lives in an area where a six-figure income is necessary to afford a home purchase, and here in the Bay Area, buyers will need to earn quite a bit more than that to get a foot in the door.
The number of Golden State residents who could afford to purchase a home declined in the most recently completed quarter, with more than 80 percent of counties less affordable than they were one year ago.
Purchasing a home in a good school district has always been a high priority for buyers who have or want children, and recent survey results show just how much a neighborhood's educational pedigree matters.
Golden State home prices could eclipse their previous peaks within the next few months, while the nine-county Bay Area continued to record double-digit percent appreciation in April, pushing prices just above $1 million.
California and Bay Area housing affordability inched up quarter over quarter, but the state is home to all 10 of the least-affordable major real estate markets in America.
Bay Area home prices have been growing substantially on an annual basis since last summer, with March appreciation the highest yet during the current run.
More than two-thirds of U.S. housing markets were not affordable in the first quarter of this year -- including all major counties in California
Find out how much money you need to make each year to maintain an adequate standard of living in all nine Bay Area counties.
Less than one in three Californians could afford to purchase a home in the fourth quarter, with affordability conditions declining in every Bay Area county from one year earlier.
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