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Because of a slight dip in the...

Because of a slight dip in the median price of housing in December, more Californians were able to afford a home, the California Assn. of Realtors said. The $5,000 drop to $172,405 in the median price of a California home marked the first time in two years that housing costs actually declined, narrowing--at least temporarily--an affordability gap that had been widening by the month. The group said 23% of the state’s households earned enough income--$54,764 a year--to purchase a median-priced, single-family, detached home in December.


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