C.A.R. Reports November's Housing Affordability Index at 14 Percent.

LOS ANGELES -- The percentage of households in California able to afford a median-priced home stood at 14 percent in November, compared with 19 percent for the same period a year ago, according to a report released today by the California Association of REALTORS(R) (C.A.R.).

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 $548,400 in California in November was $133,390, based on an average effective mortgage interest rate of 6.26 percent and assuming a 20 percent downpayment.

At 24 percent, the High Desert region was the most affordable C.A.R. region in the state, followed by the Sacramento region at 19 percent. The Northern Wine Country, San Luis Obispo and Santa Barbara regions were the least affordable in the state at 7 percent.

C.A.R.'s December 2005 sales and median price report for the state and regions within the state will be released on Wednesday, Jan. 25.

Leading the Way...(R) in California real estate for more than 100 years, the California Association of REALTORS(R) (www.car.org) is one of the largest state trade organizations in the United States, with more than 185,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Los Angeles.

C.A.R. HOUSING AFFORDABILITY INDEX(a)

                                          Nov-05   Oct-05     Nov-04
California                                   14       15         19
California - Condos                          21       21         27
United States                                48       48         55
C.A.R. REGION
Central Valley                               17       17         25
High Desert                                  24       25         40
Los Angeles                                  11       12         17
Monterey Region                               9        9         11
Northern California                          15       15         20
Northern Wine Country                         7        7         12
Orange County                                11       11         13
Palm Sprgs/Lwr Desert                        10       12         14
Riverside/San Bernardino                     18       18         19
Sacramento                                   19       19         24
San Diego                                     8        9         12
San Francisco Bay Area                       12       12         14
San Luis Obispo                               7        8         14
Santa Barbara County                          7        9          7
Santa Clara                                  18       18         22
Ventura                                      13       13         17
COUNTY
Alameda                                      11       11         15
Contra Costa                                 10       10         10
Fresno                                       17       18         28
Marin                                        12       12         14
Merced                                       10        9         20
Riverside                                    17       18         18
San Bernardino                               20       22         27
San Francisco                                 9        9         11
San Joaquin                                   9       11         18
San Mateo                                    12       12         15
Santa Cruz                                   10       11         15
Sonoma                                        7        7         12
Stanislaus                                   14       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

                                     Nov-05      Oct-05       Nov-04
Statewide
Calif. (sf)                         $548,400    $538,770     $471,980
Calif. (condo)                      $434,540    $429,090     $378,170

C.A.R. REGION
Central Valley                      $354,210    $358,650     $300,970
High Desert                         $320,860    $315,870     $248,320
Los Angeles                         $575,310    $557,730     $474,720
Monterey Region                     $721,620    $717,030     $634,500
Monterey County                     $685,000    $675,000     $598,000
Santa Cruz County                   $789,500    $769,000     $630,000
Northern California                 $427,160    $435,180     $376,620
N Wine Country                      $621,140    $628,800     $536,980
Orange County                       $695,500    $701,520     $633,340
Palm Sprgs/Lwr Desert               $377,740    $348,430     $326,220
Riverside/San Bernardino            $388,650    $394,840     $321,950
Sacramento                          $379,930    $383,280     $345,940
San Diego                           $616,840    $601,850     $564,830
San Francisco Bay                   $723,080    $719,660     $660,780
San Luis Obispo                     $605,160    $603,120     $475,560
Santa Barbara County                $650,000    $610,290     $668,750
S Barbara S Coast                 $1,115,000  $1,182,780 r $1,200,000
N Santa Barbara Cty                 $464,890    $466,000     $429,760
Santa Clara                         $745,000    $741,000     $649,000
Ventura                               NA        $677,780     $595,910

 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=MzU4NDc=.