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California Home Statistics update:
According to the C.A.R. statistics, more people can afford to buy a home now than back in the “buying frenzy of 2005! Why are you not buying?
Calif. median home price back May 2005 it was at $522,590. Today (May 2008), it is at: $384,840
Calif. First-time Buyer Affordability Index – First Quarter 2008: 44 percent
Just the previous year
May 2007 it was at 25 percent
June 2006 it was at 23 percent
June 2005 it was at 16 percent
Affordability Index Now is at 44% and median home price $384,840
According to the C.A.R. statistics, more people can afford to buy a home now than back in the “buying frenzy of 2005! Then why are you not buying? What is your greatest fear? Interested rates are still low, home prices are lower than they were three years ago!
Why are you not buying?
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