According to the National Association of Home Builders-Wells Fargo Housing Opportunity Index, the Sacramento Region has an index of 70.3%. This means that 70.3% of families earning a median income can afford to buy a home.
The index for the nation during the reporting period, 3rd Quarter 2009, is 70.1%.
Sacramento has not been this affordable in many years. Of course it is due to reduced pricing with all the foreclosures and short sales.
Investors, it is time to buy!
Wow -- I was surprised to see this. I would think that California prices are still very high compared to mahy other regions. Very interesting. BTW are you related to the Machados in MA?
Joan, I have purchased homes under 100k, one for 60k that previously sold for over 200k. It is more affordable. I do not know any Machado's in MA. But do have relatives there.
Robert - That's a pretty encouraging percentage for our area! It's certainly more encouraging than a few years ago!
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