More Californians were able to afford homes in the first quarter of 2019.
The California Association of Realtors says the percentage of homebuyers who could afford to purchase a median-priced existing single-family home increased from 28 percent to 32 percent across the state.
It was the first time the index climbed above 30 percent in a year.
California’s housing affordability index peaked at 56 percent in 2012.
The report found a minimum annual income of $114,860 was needed to purchase a $545,820 home, which is the median price in the state.
The report said San Francisco and Santa Cruz Counties were the least affordable.
Lassen and Kings counties were the most affordable.
Housing affordability improved in San Luis Obispo County and remained roughly the same in Santa Barbara County.
In San Luis Obispo County, the percentage of homebuyers who could afford to purchase a median-priced existing single-family home increased from 22 percent to 26 percent. The median home price was $602,000.
In Santa Barbara County, the percentage dropped slightly from 26 percent to 25 percent. The median home price was $596,000.
To view the full housing affordability index, click here.
