After hitting a 10-year low in Q3 2017, slightly lower home prices and steady mortgages rates allowed more Californians to realize the dream of home-ownership and purchase a home in the fourth quarter of 2017.
- 29 % of California households that could afford to purchase a median-priced home.
- 37% of Californians who could afford to purchase a median-priced condo or town home.
Median price of a single-family, Minimum annual income needed to qualify for the purchase
existing home in California. of a median-priced, existing single-family home.
Median-price if a condo/town Minimum annual income needed to afford monthly mortgage
home in California payments on a median-priced condo/town home in California,
including principal, interest and taxes.
Most Affordable Least Affordable
Tehama (56%) San Francisco (12%)
Kern (54%) San Mateo (14%)
Sutter, Tulare, and Kings (52%) Santa Clara (15%)
Courtesy of Mike Patel,
First Team Real Estate Christie’s International . www.mikepatel.com
714-470-8600 dre 01146880