House Affordability Rate Up for October

The percentage of households that can afford a median-priced home in California increased to 34% in October, up 3 percentage points from a year ago, the California Assn. of Realtors said.

A 1-percentage point decline in mortgage interest rates from last year helped offset an 8.5% rise in the median price of a single-family home in California.

Affordability rose in Los Angeles County to 36% from 35% a year ago, and in Orange County, to 31% from 28%. San Diego was the least affordable county in the region, at 29%, up from 23% a year ago, while San Bernardino and Riverside counties were the most affordable, at 48%.