Housing affordability in California was down by five percentage points in December from a year earlier, according to the California Association of Realtors.Housing affordability stood at 28% in December, down from 33% a year earlier and from 30% in November, CAR said. The index indicates the percentage of households that can afford to buy a median-priced home in California, which was $338,110 in December. The minimum household income needed to buy a median-priced home was $81,120, up from $71,450 a year earlier, CAR said. (The figures are based on a 30-year fixed-rate mortgage at a 6.10% interest rate, assuming a 20% downpayment.) CAR can be found on the Web at http://www.car.org.
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