Housing affordability increases throughout California in the third quarter of 2011, is marked with some reasonable prices and prices in the middle of the Valley.
California Association of Realtors reported that the percentage of buyers who can afford to buy a home State rose to 52 percent from 51 percent in the second quarter and 46 percent in the third quarter of 2010.
Meanwhile, the average price of single-family homes was $ 292,120 in the third quarter, which is affordable to the people who make at least $ 61,530 per year with monthly payments of $ 1,564.
In Fresno County, housing affordability dropped to 69 percent from 70 percent in the second quarter but rose from 65 percent in the third quarter of 2010.
Downtick is related to the average home prices are up 3.8 percent in the quarter to $ 142,690. The Minimum qualifying income to go up a little bit like home to $ 30,050 with monthly payments of $ 750.