Tom York on Business: Buying a Home in San Diego Got a Bit Easier This Summer

A renovated home for sale in Point Loma. Photo by Chris Jennewein

It got a little easier to purchase a home in San Diego this summer, according to a third quarter survey undertaken by the California Association of Realtors, the trade group of residential real estate brokers and agents.

But long-term affordability is slipping, in large part due to the recent dramatic run-up in housing prices.

Here in Southern California, affordability improved from the previous quarter in San Diego, as well as Los Angeles, Orange and Ventura counties.

In San Diego, 23{3e92bdb61ecc35f2999ee2a63f1e687c788772421b16b0136989bbb6b4e89b73} of would-be buyers could afford an average-priced home, an improvement of 1 percentage point from the previous quarter. But down from 27{3e92bdb61ecc35f2999ee2a63f1e687c788772421b16b0136989bbb6b4e89b73} a year ago.

Statewide only 24{3e92bdb61ecc35f2999ee2a63f1e687c788772421b16b0136989bbb6b4e89b73} of California households could afford to purchase the $814,580 median-priced home in the third quarter, down from 28{3e92bdb61ecc35f2999ee2a63f1e687c788772421b16b0136989bbb6b4e89b73} in third-quarter 2020.

Maria Flores

Next Post

Hydrocolloids Market Business Opportunities, Research Methodology, Insights Research And Outlook 2021 To 2028

Wed Nov 17 , 2021
Emergen Research Logo Hydrocolloids Market Size – USD 9,599.3 Million in 2020, Market Growth – at a CAGR of 5.1{3e92bdb61ecc35f2999ee2a63f1e687c788772421b16b0136989bbb6b4e89b73}, Market Trends – Rising disposable income among consumers VANCOUVER, BC, CANADA, November 16, 2021 / — The global hydrocolloids market size is expected to reach USD 14.35 Billion at a […]

You May Like