C.A.R. Reports California's Housing Affordability Index Fell Four Points to 15 Percent in October.LOS ANGELES Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. -- The percentage of households in California California (kăl'ĭfôr`nyə), most populous state in the United States, located in the Far West; bordered by Oregon (N), Nevada and, across the Colorado River, Arizona (E), Mexico (S), and the Pacific Ocean (W). able to afford a median-priced home stood at 15 percent in October October: see month. , a 4 percentage-point decrease compared with the same period a year ago when the Index was at 19 percent, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a report released today by the California Association of REALTORS(R) (C.A.R.). The October Housing Affordability Index (HAI HAI Health Action International HAI Healthcare-Associated Infections HAI Helicopter Association International HAI Hospital Acquired Infection HAI Hemagglutination Inhibition (Immune assay type, microbiology) ) was unchanged from September September: see month. , when it stood at 15 percent. 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 and select counties within the state. The Index is the most fundamental measure of housing well-being in the state. The minimum household income needed to purchase a median-priced home at $538,770 in California in October was $128,480, based on an average effective mortgage interest rate of 6.03 percent and assuming a 20 percent downpayment. The minimum household income needed to purchase a median-priced home was up from $106,490 in October 2004, when the median price of a home was $459,530 and the prevailing interest rate was 5.70 percent. The minimum household income needed to purchase a median-priced home at $218,000 in the U.S. in October 2005 was $51,990. At 25 percent, the High Desert region was the most affordable C.A.R. region in the state. The Northern Wine Country region was the least affordable in the state at 7 percent. C.A.R.'s November November: see month. 2005 sales and median price report for the state and regions within the state will be released on Thursday Thursday: see week. , Dec. 22. Leading the Way...(R) in California real estate for 100 years, the Years, The the seven decades of Eleanor Pargiter’s life. [Br. Lit.: Benét, 1109] See : Time California Association of REALTORS(R) (www.car.org See .org. (networking) org - The top-level domain for organisations or individuals that don't fit any other top-level domain (national, com, edu, or gov). Though many have .org domains, it was never intended to be limited to non-profit organisations. RFC 1591. ) is one of the largest state trade organizations in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , with more than 185,000 members dedicated to the advancement A gift of money or property made by a person while alive to his or her child or other legally recognized heir, the value of which the person intends to be deducted from the child's or heir's eventual share in the estate after the giver's death. of professionalism professionalism the upholding by individuals of the principles, laws, ethics and conventions of their profession. in real estate. C.A.R. is headquartered in Los Angeles.
C.A.R. HOUSING AFFORDABILITY INDEX(a)
Oct-05 Sep-05 Oct-04
California 15 15 19
California -- Condos 21 22 28
United States 48 49 55
C.A.R. REGION
Central Valley 17 17 25
High Desert 25 26 42
Los Angeles 12 13 17
Monterey Region 9 9 11
Northern California 15 15 21
Northern Wine Country 7 7 13
Orange County 11 11 13
Palm Sprgs/Lwr Desert 12 11 13
Riverside/SBernardino 18 19 20
Sacramento 19 20 25
San Diego 9 9 12
San Francisco Bay Area 12 12 14
San Luis Obispo 8 8 14
Santa Barbara County 9 9 9
Santa Clara 18 19 23
Ventura 13 13 18
COUNTY
Alameda 11 11 14
Contra Costa 10 10 10
Fresno 18 19 27
Marin 12 13 16
Merced 9 10 19
Riverside 18 18 18
San Bernardino 22 22 26
San Francisco 9 9 11
San Joaquin 11 10 18
San Mateo 12 13 16
Santa Cruz 11 11 13
Sonoma 7 7 13
Stanislaus 15 15 27
(a) -- percentage of California households that can afford to
purchase a median-priced home
r -- revised
Source: California Association of REALTORS(R)
Median Prices By Region -- Current Month vs. Year Ago
Oct-05 Sep-05 Oct-04
Statewide
Calif. (sf) $538,770 $543,980 $459,530 r
Calif. (condo) $429,090 $424,580 r $372,600
C.A.R. REGION
Central Valley $358,650 $361,290 $296,550
High Desert $315,870 $312,410 $239,400
Los Angeles $557,730 $560,990 $458,210
Monterey Region $717,030 $712,800 $631,810
Monterey County $675,000 $680,000 $578,000
Santa Cruz County $769,000 $750,000 $660,000
Northern California $435,180 $434,690 $369,060
Northern Wine Country $628,800 $639,390 $520,980
Orange County $701,520 $708,840 $622,090
Palm Spgs/Lower Desert $348,430 $371,250 $342,310
Riverside/San Bernardino $394,840 $389,450 $317,990
Sacramento $383,280 $383,920 $337,780
San Diego $601,850 $612,030 $566,740
San Francisco Bay $719,660 $709,980 $650,920 r
San Luis Obispo $603,120 $602,160 $465,560
Santa Barbara County $610,290 $610,710 $609,850
S. Barbara S. Coast $1,225,000 $1,475,000 $1,035,000
No. S. Barbara County $466,000 $462,700 $432,000
Santa Clara $741,000 $733,000 $636,000
Ventura $677,780 $678,380 $584,950
na -- not available
r -- revised
Source: California Association of REALTORS(R)
Today's release also is available on C.A.R. Online at http://www.car.org/index.php?id=MzU2OTY OTY Over To You =. |
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