Homes More Affordable Statewide: Statewide housing affordability...
From Times Staff and Wire Reports
Homes More Affordable Statewide: Statewide housing affordability improved in September for the second month in a row as buyers increasingly sought homes in more affordable communities, the California Assn. of Realtors said. Eighteen percent of households earned the income needed to qualify for a mortgage loan to purchase the median-priced, existing single-family home, up from 17% in August but still down from 22% a year ago. In the Los Angeles region, 14% could qualify to purchase the median-priced home, up from 12%. At the September median price of $221,954 in Los Angeles, a household here needed an annual income of $73,118 and faced monthly mortgage payments of $1,828.
