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Aug 25

Santa Clara County Affordability Index at 58

Tuesday, August 25, 2009 | Comments Off

“Quick Facts:
· C.A.R. First-time Buyer Housing Affordability Index stood at 67 percent in the second quarter of 2009 compared with 49 percent (revised) in the second quarter of 2008
· The median price of an entry-level home in California was $224,180 in the second quarter of 2009
· The estimated monthly payment including taxes and insurance was $1,330 in the second quarter of 2009
· The minimum household income needed to purchase an entry-level home in California in the second quarter of 2009 was $39,930″

California Association of REALTORS most recent data shows affordability is at at an all time high. It’s no wonder buyers are opting to own for the cost of renting.

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