San Francisco Bay Area Housing Affordability, Q3 2019
By Lottie Kendall, Helping make your real estate dreams a reality
(Compass)
A few days ago the California Association of Realtors released its Q3 housing affordability index. It shows a generally stabilizing or slightly declining median home price in San Francisco County, plus increasing median household incomes. Those factors, combined with falling interest rates equals a jump in year-over-year Bay Area housing affordability.The California Association of Realtors Housing Affordability index estimates the percentage of households who can afford to buy a median priced HOUSE with a 20% down payment at prevailing fixed 30-year interest rates, with associated housing expenses such as taxes and insurance. Some charts of this data follow.Remember, counties contain cities, and cities contain neighborhoods of widely varying values, market conditions and affluence. Vary...
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