C.A.R.’s First-time Buyer Housing Affordability Index
According to to The California Association of Realtor’s (C.A.R.’s) Traditional Housing Affordability Index, We are heading back to the place where most folks cant afford a home. That is, less than half of all Californians can qualify to buy a home… The THAI measures the percentage of households that can afford to purchase the median priced home in the state and regions of California based on traditional assumptions. C.A.R. also reports its traditional and first-time buyer indexes for regions and select counties within the state. The HAI is the most fundamental measure of housing well-being for buyers in the state.
State / Region / County | Q4 – 2016 | Q3 – 2016 | Q4 – 2015 | Median Home Price | Monthly Payment Including Taxes and Insurance | Minimum Qualifying Income |
CA Single Family Home | 51 | 50 | 51 | $434,656 | $2,076 | $62,284 |
Sacramento | 65 | 63 | 66 | $275,655 | $1,317 | $39,500 |
Placer County | 66 | 65 | 65 | $369,512 | $1765 | $52,949 |
Indexed Quarterly, C.A.R.’s First-time Buyer Housing Affordability Index (FTB-HAI) is used to measure the percentage of California households that can afford to purchase an entry-level home in California. It is reported by regions and select counties within the state. The Index is the most fundamental measure of housing well-being for first-time buyers in the state.
http://www.car.org/marketdata/marketforecast/
See the entire report here
Enter your email to subscribe.