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Article: Housing Affordability Declines Five Points To 31 Percent in September, C.A.R. Reports.
- Article from:
- PR Newswire
- Article date:
- November 2, 2000
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LOS ANGELES, Nov. 2 /PRNewswire/ --
Housing affordability in California fell to 31 percent in September, down 5 percentage points from September 1999, the California Association of REALTORS(R) reported today.
Nationwide, affordability was 53 percent in September, down from 54 percent a year ago.
C.A.R.'s monthly housing affordability index measures the percentage of households that can afford to purchase a median-priced home in California. C.A.R. also reports housing affordability indexes for regions within the state.
The index is the most fundamental measure of housing well-being in the state.