Home affordability dips as mortgage rates rise in the fourth quarter
About one of every six households could afford to buy the median-priced home, the second-lowest percentage on record.
About one of every six households could afford to buy the median-priced home, the second-lowest percentage on record.
Higher mortgage rates have made the often-asked question much easier, as monthly house payments demand a lot more money than rent in many cities in California. Find out how much by region.
The months-long standoff between buyers and sellers continued in December, but a dip in mortgage rates encouraged more buyers to test the cool waters.
California home sales plummet to the lowest level since 2008 and prices decline for the second consecutive month.
Higher mortgage rates are affecting home prices, but fewer buyers are able to afford a home as the monthly mortgage payment has increased by at least 33% in California.
This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.
Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings.
If you disable this cookie, we will not be able to save your preferences. This means that every time you visit this website you will need to enable or disable cookies again.
More information about our Cookie Policy