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Housing Affordability Declines Four Points in July

September 6, 2002

Gap Between California and U.S. Now 27 Percentage Points

LOS ANGELES, /PRNewswire/ -- The percentage of households in California able to afford a median-priced home decreased by four percentage points in July compared to a year ago, according to a report released today by the California Association of REALTORS® (C.A.R.).

The July 2002 Housing Affordability Index (HAI) stood at 28 percent, down four points from a revised 32 percent in July 2001, according to C.A.R. The July HAI was unchanged from June 2002, when it was a revised 28 percent.

At 66 percent, the High Desert was the most affordable region in the state, followed by Riverside/San Bernardino and Sacramento, both at 43 percent. Monterey was the least affordable region in the state at 16 percent, followed by Northern Wine Country (18 percent), and the San Francisco Bay Area (18 percent)

C.A.R. REGION .Jul-02 Jun-02 Jul-01
Central Valley   40   40   46r
High Desert  66 66  67
Los Angeles 31   31  35
Monterey Region 16   15   14
Northern California   34 32  40
Northern Wine Country  18 16  20
Orange County 22 22   28
Palm Sprgs/Lwr Desert 24 22  32
Riverside/SBernardino  43 43  47
Sacramento  43   44r 49
San Diego   20 20  24
San Francisco Bay Area 18 17  20
San Luis Obispo 23 20  24
Santa Barbara Area  20 18  14
Santa Clara    22 20 23
Ventura   28   33 31r
COUNTY      
Alameda  18 17  21
Contra Costa  10   10  14
Fresno 47   46  50
Kern 59 59  61r
Marin  16   16  17
Merced 38   37  44
Riverside 38   37  43
San Bernardino  51 51  52
San Francisco 13 12 12
San Joaquin 32   30 38
San Mateo 17   16  17
Santa Cruz  15 16  15
Sonoma 18   17r 18
Stanislaus  40 40  42

Source: California Association of REALTORS® (C.A.R.).



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