California? Affordable Housing Returns
February 19, 2009 by admin
Filed under Positive Real Estate
But as John Burns says get it while the gettin is good. As rates are so low they won’t last much longer. 59 % of California households had the monthly income to buy an entry-level home. This is comparing the 4th quarter of 2008 to the 33% a year earlier. This says the California Association of Realtors’ First-Time Buyer Housing Affordability Index.
$48,900 was the minimum qualifying income and is a number 42% lower than a year earlier when households needed $83,700 to qualify for a loan on an entry-level home.
At 76 percent, the High Desert region was the most affordable area in the state, while the San Luis Obispo County region was the least affordable in the state at 44 percent, followed by the Los Angeles County region at 46 percent.
More related Positive News
Sale Volume up Across Nation
January 16, 2009 by admin
Filed under Positive Real Estate
Home prices are still dropping but volume of sales is rising. The question remains when will supply and demand reach equilibrium?. Soon says some. From Forbes by way of Realtor.com: Las Vegas real estate properties are down 28% in price, but sales of homes are up 15%.
“By the end of 2010 – that’s where we’re calling the bottom in the forward market. You’re going to get a small price appreciation in 2011,” says Patten. “It’s not like the turn is 10% per year, it’ll be something like 3% or 4%.”
Cities that are experiencing this paradoxical price to volume counter relationship and that should be out of recessionary pricing soon.
- Las Vegas
- Sacramento, Calif.
- San Diego, Calif.
- Los Angeles
- Detroit
- Phoenix
- San Francisco
- Washington, D.C.
- San Jose
- Atlanta
