Affordability index declines for state
From Times wire reports
The percentage of California home buyers able to afford a median-priced home dropped 6 percentage points in October compared with a year ago.
The California Assn. of Realtors’ affordability index in October stood at 30%, down 6 points from 36% for the same month last year and up 1 point from a revised 29% in September.
The minimum income to buy a median-priced home at $322,730 was $77,700, based on a 30-year fixed-rate mortgage at 6.14% with a 20% down payment.
