San Diego County affordability index continues to slide

When I passed my California state real estate exam in May 2005, a mere 10% or so of San Diego households could afford a median priced home.

At the tale end of that real estate boom, the affordability index for San Diego County fell a little lower. As the real estate market fell, more San Diego households could afford those median-priced homes, with affordability getting up to 58.8%.

Now that the market seems to be recovering here in San Diego with 24 months of increasing sales and 18 months of increasing or flat prices, the affordability index, understandably, is falling.

The latest report by the National Association of Home Builders reported that the Housing Opportunity Index for the 2010 first quarter in San Diego County fell to 46.6%, down from 48.1% in the fourth quarter of 2009, and down from 58.8% in the first quarter of 2009.

If the Federal tax credit, which expired April 30, didn't entice you to buy that new home that you've been dreaming of, you might seriously consider it before increasing prices put that dream home out of your reach again.

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If you're looking for a great San Diego Realtor, well,
let me Google one for you.

I'm available 24/7, so feel free to contact me by phone or email.

Jim Frimmer, Realtor
Century 21 Award Mission Valley
California DRE License #01458572
619-729-5701
jimfrimmer@century21award.com
Mission Valley Condos Information

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Try RusselRayPhotos.com for inexpensive, royalty-free photos.

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