Housing Affordability in California Climbs

Housing affordability in California rose to 32% in June, up 2 percentage points from the same period a year ago, according to the California Assn. of Realtors.

In Los Angeles County, 35% of residents could afford homes, up from 33% a year ago.

At 25%, San Diego was the least affordable county in the region, up 2 percentage points from a year ago. Only 29% of Orange County’s residents could afford a median-price home in June, up 4 percentage points.

San Bernardino and Riverside counties were the most affordable, at a flat 47% rate. Ventura County figures were not available.

The number of homes entering foreclosures in California fell to a nine-year low in the second quarter, according to DataQuick Information Systems. Lenders initiated foreclosure proceedings on 19,514 homeowners, down 9% from a year ago.