With interest rates and home prices in the first half of 2015, housing affordability remains an issue for many would-be buyers.
- 30% The percent of buyers who could afford to purchase a medium priced single priced home declined in the second quarter.
- $485,100 Statewide medium priced single family home.
- $96,100 Medium annual income needed to qualify to purchase a single family home.
- $2,404 The monthly payment, including taxes and insurance, on a 30 yr fixed rate*.
*Assumes a 20% down payment and a affective composite interest rate of 3.97%
Source: California Association of REALTORS
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